LIC IPO : Govt selected Milliman Advisors LLP India as the Reporting Actuary for the Embedded Value of LIC
The central government on December 31, 2020 selected Milliman Advisors LLP India for arriving at the embedded value of Life Insurance Corporation (LIC) ahead of its IPO.
The Secretary, DIPAM tweeted in the twitter with the following statement
Government has selected Milliman Advisors LLP India as the Reporting Actuary for the Embedded Value of LIC. Work to start soon.
In the month of August 2020, The government has approved the appointment of SBI Caps and Deloitte as the pre-IPO transaction advisors (TAs) for the listing of Life Insurance Corporation of India (LIC).
LIC’s mega IPO were invited by the government in June earlier this year. The proposed listing is expected to be the biggest in the history of the Indian capital markets. LIC, which dominates India’s insurance sector, is the country’s oldest and biggest insurer with total assets in excess of Rs 31 lakh crore.
Finance Minister Nirmala Sitharaman had announced during the budget speech on February 1, 2020, a divestment of the government stake in LIC through an IPO. Currently, the government holds 100 percent stake in the life insurer.