The Insurance Corporation Employees Union (ICEU) Cuddapah division has demanded that the Central government drop the proposed move to get the LIC of India listed in the stock markets and called for a nationwide strike on November 26 on the issue.
At a demonstration in front of the corporation’s divisional office here on Thursday, union leaders A. Raghunatha Reddy, A. Srinivas, Veera Pratap, Paramahamsa and Sankar Rao condemned the move to amend the Acts pertaining to the corporation, which they said would harm the interests of the 40 lakh policyholders across the country.
“Stock listing the company having ₹32 lakh crore worth of assets, 76% market share and an enviable claim settlement record of 98% is not in the interests of the company or the public,” Mr. Raghunatha Reddy observed.
