Moody's withdraws LIC's rating for business reasons

Moody's Investors Service has withdrawn the Baa3 insurance financial strength rating of Life Insurance Corporation.

The rating has been withdrawn for Moody's own business reasons, the international rating agency said in a statement.

Headquartered in Mumbai, LIC --which is wholly owned by Indian Government--is the largest life insurer in India.

srivats.kr@thehindu.co.in

Source : The Hindu