Ministry of Finance Reviews Public Sector Insurance Companies’ Performance

The Secretary of the Department of Financial Services (DFS), Shri M. Nagaraju, led a meeting on January 13, 2026, to assess the performance of several Public Sector Insurance Companies (PSICs) for the fiscal year 2024–25 and the first half of FY 2025–26. The review highlighted the necessity for PSICs to increase profitability, reduce loss ratios, and enhance their digital onboarding processes and customer-centric initiatives. The Secretary aimed to ensure the provision of efficient services by addressing public grievances swiftly and processing claims seamlessly. The meeting applauded the efforts of Life Insurance Corporation of India (LIC) and Agriculture Insurance Company of India Ltd. (AICIL) for their significant achievements.

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