Life Insurance Corporation of India (LIC) today said it has infused an additional capital of LKR 500 million (approx ₹14 crore) in its Sri Lankan subsidiary, LIC (Lanka) after the close of market hours on Friday. In a regulatory filing, the public sector life insurer said, the shareholding of LIC in the Lankan subsidiary will increase from 90.91% to 93.75% after allotment of shares.
The additional capital infusion was to comply with the statutory requirement of maintaining minimum total available capital under the regulation of the Insurance Regulatory Commission of Sri Lanka, it said.
