KARIMNAGAR, DECEMBER 18, 2025: Employees of the Life Insurance Corporation, under the banner of All India Insurance Employees Association (AIIEA) have staged a protest dharna at the LIC divisional office in Karimnagar town on Thursday against the increase in the Foreign Direct Investment (FDI) limit, as announced by Finance Minister Nirmala Sitharaman in the Lok Sabha.
Flaying Union Finance Minister Nirmala Seetharaman, who had raised the limit of FDI in the insurance sector from 74 per cent to 100 per cent, AIIEA national vice president Satish said that the increase of FDI from the existing 74 per cent to 100 per cent would be harmful to the Indian economy, common people and also the state’s responsibilities.
Stating that the privatisation of the insurance sector began in 1999 during the BJP regime with the passage of the Insurance Development Regulatory Authority (IRDA) Act, which allowed Indian money to operate in partnership with foreign companies, he said that if existing foreign partners decide to operate independently, it could severely impact Indian companies, potentially leading to hostile takeover bids for existing firms.
Demanding the withdrawal of the bill introduced in the parliament for 100 per cent FDI in the insurance sector, he reminded that the LIC of India is still the number one insurance in the country with 60 per cent market share and provides the highest claims to its customers.
LIC main union AIIEA, Class one officers, Agents’ association and pensioners participated in the dharna. LIC divisional leaders A Rammohan Rao, D Suryakala, V Vaman Rao, P Basaveshwar, C Anupama, M Srilatha, DO unit leaders Mallesham, Prabhakara Chary, and Mahesh, Class-One officers leaders Raja Narender, and others were also present.
