Investment14 Jan 2025, 04:12 am
Life Insurance Corporation of India Infuses LKR 2000 Million in Life Insurance Corporation (Lanka) Ltd.
AI Summary
The Board of Directors of Life Insurance Corporation of India has approved the infusion of equity capital of LKR 2000 Million (approximately INR 58.50 Crores) in the form of Equity Capital at nominal value of LKR 10/~ per share in Life Insurance Corporation (Lanka) Ltd. This decision is subject to approval from Insurance Regulatory and Development Authority of India (IRDAI) and Central Bank of Sri Lanka.
Key Highlights
- Life Insurance Corporation of India to infuse LKR 2000 Million in Life Insurance Corporation (Lanka) Ltd.
- The investment is in the form of Equity Capital at nominal value of LKR 10/~ per share.
- The decision is subject to approval from Insurance Regulatory and Development Authority of India (IRDAI) and Central Bank of Sri Lanka.
- The Board Meeting for this decision was held on January 13, 2025.