LIC is currently in talks to purchase a 50% stake in ManipalCigna, which would mark its entry into the health insurance sector. This move is part of LIC's broader strategy to expand its offerings beyond traditional life insurance products.

This development underscores LIC's commitment to diversifying its portfolio and capitalizing on the growing health insurance market. It is reported that both parties have already signed a non-disclosure agreement, enabling ongoing negotiations for the potential acquisition.

By entering the health insurance sector, LIC aims to tap into new opportunities and cater to the evolving needs of its customers. This strategic move aligns with LIC's vision of expanding its product offerings and staying competitive in the market.