Life Insurance Corporation of India (LIC) is planning to acquire a private health insurance company, marking its entry into the health insurance sector. This move aims to enhance LIC's product offerings and strengthen its position in the insurance market. The acquisition aligns with LIC's strategy to diversify its portfolio and leverage growth opportunities in the booming health insurance industry. The deal is part of LIC's broader vision to expand its footprint and provide comprehensive insurance solutions to a wider customer base. Further details of the acquisition are awaited.