LIC shares took center stage in Thursday’s trade as the public insurer is set to enter the health insurance space. The company according to its reports is in talks to acquire a 50 percent stake in Manipal Cigna Health Insurance.
The financial consideration of the deal which is currently in the first phase is indicated at Rs 2,000 crore.
This is as the leading public health insurer aims to tap into the niche but rapidly growing health insurance segment to provide medical insurance to the masses.
On the upswing, the insurer’s shares traded up more than one percent at the day’s high of Rs 927 per share.
