CURRENT AFFAIRS

Detailed explanation-1: -The permitted capital for National Insurance will now be 15, 000 crore (1, 500 crore shares with a face value of 10 apiece), up from the current 7, 500 crore, according to a notification released by the Finance Ministry (1, 500 crore shares with a face value of ten each).

Detailed explanation-2: -The government has enhanced authorised share capital of three public sector general insurance companies – National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company.

Detailed explanation-3: -According to the current norms, insurers are required to have a minimum paid-up capital of Rs 100 crore.

Detailed explanation-4: -If this application is made for the business of Life Insurance, General Insurance, or Health Insurance, there must be documentary evidence proving that the paid-up capital of the business is at least Rs. 100 crore.

Detailed explanation-5: -Life Insurance Corporation Of India The company has the highest market cap in the list of top listed insurance companies in India, which is Rs. 3, 98, 128.91 cr. The P/E ratio of the company stands at 96.52 as of 5th December 2022. As of 5th December 2022, the return on investments of LIC is 35.99%.