The government plans to sell up to a 2% stake in Life Insurance Corporation of India, potentially raising about 10,000 crore, as part of a strategy to reduce its holding from 96.5% to the required minimum of 75%.

Life Insurance Corporation of India lost Rs 21,188.74 crore in market value, bringing its total valuation down to Rs 5,35,537.56 crore.

Life Insurance Corporation of India continues to be predominantly agency-driven, with only about 3 percent of its Annualised Premium Equivalent sourced through bancassurance.