Drop LIC stake sale or face stir: Chidambaram

The LIC is profitable despite fierce competition from very large insurance companies of the world with deep pockets and it has also increased its first premium share last year by about five per cent, he said. Participating in a Question and Answer session after his lecture on budget organised by the Southern India Chamber of Commerce and Industry here, Chidambaram, a former finance minister, said the LIC was doing well. “They have to explain to us... why do you want to list LIC today. Is it because you think the management culture is bad ? the work culture is bad? Convince us,” he said answering a query.