LIC CEO addresses concerns raised by agents, affirms commitment to policyholders, agents
Mumbai: A delegation of LIC agents met with the Leader of the Opposition to voice their concerns regarding recent changes in policy regulations. In response, LIC Chairman and Managing Director Siddhartha Mohanty issued a statement clarifying the company’s stance and reaffirming its commitment to both policyholders and agents.
Mohanty stated that LIC has introduced new products in accordance with the Insurance Regulatory and Development Authority of India's (IRDAI) New Product Regulations, which came into effect on October 1, 2024. He emphasized that these changes were implemented with the interests of policyholders as the top priority.
"LIC has always been committed to broadening life insurance coverage, particularly in rural areas and among economically and socially disadvantaged sections. Our goal is to extend financial protection to every insurable individual at an affordable cost," Mohanty said.
Addressing concerns about commissions, Mohanty clarified that while product regulations have undergone modifications, agent commissions have not been reduced. Instead, they are now provided in a staggered manner.
He further highlighted LIC’s diverse portfolio, which caters to various customer segments while fully complying with regulatory requirements. Citing the Micro Bachat plan as an example, he noted that it offers a minimum sum assured of ₹1 lakh and is exempt from GST, making it more accessible to a wider audience.
Reaffirming LIC’s commitment to its agency network, Mohanty stated, "LIC remains dedicated to providing financial security to policyholders while also supporting the well-being of its agency force."
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Slain Australia beach shooting suspect native of Hyderabad: T'gana police
Hyderabad/Melbourne (PTI): Sajid Akram, the 50-year-old slain suspect in a mass shooting at a Hanukkah celebration at Bondi Beach in Australia, was an Indian citizen hailing from Hyderabad, Telangana Police revealed on Tuesday.
While he had migrated to Australia 27 years ago, Akram carried an Indian passport. Akram, along with his 24-year-old son Naveed Akram, recently travelled to the Philippines on an Indian passport.
Akram, one of the two suspects in the mass shooting that has left 15 people dead and dozens injured, migrated to Australia in 1998 and had limited contact with his family here since then, the Telangana DGP's office said in a statement.
"Sajid Akram (50) is originally from Hyderabad, India. He completed his B.Com degree in Hyderabad and migrated to Australia in search of employment, approximately 27 years ago, in November 1998," it said.
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He married a European-origin woman before settling permanently in Australia. The couple have one son, Naveed (the second suspect who is in custody at a hospital in Australia) and one daughter, it said.
Naveed and Akram's daughter were born in Australia and are citizens of that country, the statement said.
On Tuesday, Australian Federal Police Commissioner Krissy Barrett described the mass shooting as "a terrorist attack inspired by the Islamic State."
According to Australian authorities, the suspects were a father and son, aged 50 and 24. The older man, who was identified as Sajid Akram, was shot dead.
The Telangana police said Akram visited India on six occasions after migrating to Australia, primarily for family-related reasons such as property matters and to meet his elderly parents.
It is understood that he did not travel to India even at the time of his father's demise, the statement said.
The family members have further expressed no knowledge of his radical mindset or activities, nor of the circumstances that led to his radicalisation, police said.
"The factors that led to the radicalisation of Sajid Akram and his son, Naveed, appear to have no connection with India or any local influence in Telangana," Telangana police said.
Telangana Police further said it has no adverse record against Akram during his stay in India before his departure in 1998.
The state police said it remains committed to cooperating with central agencies and other counterparts, as and when required, and urged the public and media to avoid speculation or attribution without verified facts.
Quoting security sources, Australia's ABC News reported that Akram and Naveed travelled to the Philippines to receive "military-style training".
"Investigators are now examining the Akrams' ties to an international jihadist network, after discovering the pair travelled to Manila in early November," it said, quoting officials briefed on the investigation.
The Philippines Bureau of Immigration confirmed the pair arrived in the Philippines from Australia on November 1, declaring the southern city of Davao - a hotbed for Islamic militants since the 1990s - as their destination, it said.
"They left the country on November 28, 2025, on a connecting flight from Davao to Manila, with Sydney as their final destination," ABC News quoted the Philippines' Bureau of Immigration spokesperson Dana Sandoval as saying.
Sandoval said Akram entered the country on an Indian passport, while his son, Naveed, entered on an Australian passport.
In the Philippines, Undersecretary of the Presidential Communications Office and Press Officer for Malacanang Palace Claire Castro said that the National Security Council (NSC) is currently looking into reports that the father and son duo travelled to the country a month before the attack.
