Moodys withdraws LICs rating for business reasons

Moodys Investors Service has withdrawn the Baa3 insurance financial strength rating of Life Insurance Corporation of India (LIC) for its own business reasons. Headquartered in Mumbai, Life Insurance Corporation of India Co is wholly owned by the government of India and is the largest life insurance company in the country. The insurer reported total assets of INR18.5 trillion ($302 billion) and shareholders' equity of INR5.4 billion ($88.2 million) at the end of June 2014.

Moody’s Investors Service has withdrawn the Baa3 insurance financial strength rating of Life Insurance Corporation of India (LIC) for its own business reasons.

Headquartered in Mumbai, Life Insurance Corporation of India Co is wholly owned by the government of India and is the largest life insurance company in the country. The insurer reported total assets of INR18.5 trillion ($302 billion) and shareholders’ equity of INR5.4 billion ($88.2 million) at the end of June 2014.