India's insurance giant LIC turns to Wall Street banks to hedge risk
Insurance
Corp. of India is working with some of Wall Street's largest banks to hedge its liabilities, according to people familiar with the matter.
The nation's largest insurer has entered into $1 billion worth of bond forward rate agreements with banks including
JPMorgan Chase
& Co. and
Bank of America
Corp. over the past two months, the people said, asking not to be identified as they are not authorized to speak publicly.
Explore courses from Top Institutes in
Please select course:
Select a Course Category
Product Management
Others
Project Management
Design Thinking
Finance
Digital Marketing
Public Policy
Data Science
Artificial Intelligence
healthcare
MBA
Leadership
Cybersecurity
Management
Degree
Data Science
Data Analytics
Operations Management
CXO
PGDM
Skills you'll gain:
Product Strategy & Roadmapping
User-Centric Product Design
Agile Product Development
Market Analysis & Product Launch
Duration:
24 Weeks
Indian School of Business
Professional Certificate in Product Management
Starts on
Jun 26, 2024
Get Details
Skills you'll gain:
Product Strategy & Competitive Advantage Tactics
Product Development Processes & Market Orientations
Product Analytics & Data-Driven Decision Making
Agile Development, Design Thinking, & Product Leadership
Duration:
40 Weeks
IIM Kozhikode
Professional Certificate in Product Management
Starts on
Jun 26, 2024
Get Details
In November,
LIC
announced plans to enter the bond derivatives market and conducted a few small trades earlier this year. Since then, it has stepped up its activity — its recent deals have accounted for 38% of the total $2.6 billion in forward rate agreement volumes since May, according to data on the Clearing Corp. of India's website.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Elegant New Scooters For Seniors In 2024: The Prices May Surprise You
Mobility Scooter | Search Ads
Learn More
Undo
This surge highlights the growing sophistication of India's financial players. As more Indian families invest in financial markets, insurers like LIC — which oversees $630 billion in assets — are driving demand for diverse investments and hedging options. FRAs, in particular, have become popular as they allow insurers to lock in future bond yields and shield them from falling interest rates that could reduce their income.
Officials at the LIC and Bank of America did not respond to requests for comment made via email and phone, while a spokesperson for JPMorgan Chase declined to comment.
Live Events
In FRA, an insurer agrees to buy a bond at a set price on a future date. The counterparty — typically a bank — takes on the risk of bond price changes and receives a premium in return. To manage this risk, banks often buy long-term bonds that match the terms of the contract.
LIC's growing activity in this market has boosted the demand for long-term bonds, the people said. In fact, the last two auctions for these bonds have seen the highest bid-to-cover ratios of the current fiscal year that began April 1, according to data compiled by Bloomberg.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
40 minutes ago
- Business Standard
Why Learning Foreign Languages Is the New Career Power Move for Indian Youth
India PR Distribution New Delhi [India], August 1: In today's globalized world, the ability to communicate in more than one language is not just a skill--it's a career accelerator. As India's young workforce continues to compete on a global stage, learning foreign languages such as German, French, Japanese, and Spanish has become one of the smartest moves for career growth, overseas education, and international job opportunities. Foreign Languages Open Global Career Doors From multinational corporations to international universities, the demand for multilingual professionals is on the rise. Countries like Germany, Japan, and France are actively welcoming Indian students and skilled professionals. In many cases, proficiency in the native language is either a requirement or a strong advantage. For example, German companies operating in India often prefer candidates who can speak and understand German. Similarly, Japan offers a large number of technical internships and long-term employment options for Indians with Japanese language skills. The ability to communicate in the local language not only improves the quality of professional interactions but also makes integration into society smoother. Boosting Employability and Salary Potential Hiring managers consistently place language skills among the top desirable traits in global candidates. Bilingual and multilingual individuals are often offered better job roles and salary packages. In sectors like hospitality, aviation, international business, IT, and translation services, foreign language proficiency is a competitive edge. Students who pursue international education also benefit greatly. Whether applying to German public universities, enrolling in French business schools, or preparing for Japanese corporate internships, language skills strengthen a student's profile. Many institutes are now helping bridge this gap. The Indian Institute of Foreign Languages offers structured programs in German, French, Japanese, Spanish, and English--both online and offline--making it easier for students across India to gain certification and fluency. India's Youth are Catching On More Indian students and professionals are recognizing the value of foreign languages. Enrollments in language certification programs have increased significantly over the past few years, especially among students preparing for study abroad, jobs in Europe or Japan, and global business ventures. With the rise of digital learning, students from cities like Bangalore, Mumbai, Delhi, and even Tier 2 towns can now access high-quality language courses from the comfort of their homes. Institutes offering weekend and evening batches have made it easier for working professionals to learn without disrupting their daily routines. A Lifelong Skill With Endless Benefits Beyond careers, learning a foreign language also improves memory, cognitive flexibility, and cross-cultural understanding. It builds confidence, sharpens communication, and makes international travel more rewarding. In an era where remote jobs, overseas migration, and global networking are common, the ability to speak an additional language is no longer optional--it's essential. Where to Begin? For Indian youth looking to get started, it's important to choose the right course and certification. Most global employers and universities recognize international language tests such as Goethe-Zertifikat (German), JLPT (Japanese), DELF/DALF (French), and DELE (Spanish). Institutions like the Indian Institute of Foreign Languages not only prepare students for these exams but also provide career guidance, flexible timing, and access to native-speaking trainers and online learning tools. Conclusion In a world that's becoming more interconnected every day, foreign language skills are the bridge between Indian talent and global opportunity. Whether your goal is to study in Germany, work in Japan, or run a business with international clients, speaking a second language gives you a powerful head start. For India's young professionals and students, learning a foreign language may be the smartest career move they make this decade. (ADVERTORIAL DISCLAIMER: The above press release has been provided by India PR Distribution. ANI will not be responsible in any way for the content of the same)
Time of India
an hour ago
- Time of India
Gemini Daily Horoscope Today, August 2, 2025: Patience will guide your mind right
Patience is your ally in navigating complex situations. Today may bring moments that test your ability to wait and understand. People around you may not respond as you expect, or tasks may move slower than you wish. But do not push or rush. The strength lies in staying calm when everything seems unsure. Your sharp mind can see both sides of a situation, so use that power gently. With time and trust, the answers you seek will slowly come to light. Gemini Love Horoscope Today In love, small misunderstandings may arise, but nothing too heavy if handled with patience. Do not jump to conclusions. If in a relationship, listen carefully before reacting. Sometimes your partner just needs to be heard without being fixed. If single, someone may show mixed signals. Stay calm and observe. True connection is built with time, not urgency. Let feelings develop like a slow breeze, not a storm. Your charm is best shown through steady words and sincere attention today. Gemini Career Horoscope Today At work, things may not go exactly as planned, but your adaptable nature helps you adjust. A colleague might cause some delay or confusion. Avoid blaming and focus on your part. You may have to repeat or recheck a task, but it will lead to better results. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Explore new and used vehicles across the board. Carxplore Shop Now Undo If a new project is beginning, allow time to understand it fully. Avoid trying to prove yourself too quickly. Slow, clear communication and steady effort will give you more success than rushing today. Gemini Money Horoscope Today Money matters may appear tricky today, especially if dealing with shared finances or bills. Do not sign anything in a hurry or agree to a deal without understanding the full picture. If you are thinking of a purchase, wait a day or two. You may find a better option. This is a good time to organize your accounts or speak with someone experienced about investments. Patience will protect your wealth. Remember, strong financial roots take time to grow well. Gemini Health Horoscope Today Health-wise, you may feel slight discomfort in the stomach or head due to stress. You are thinking too much, and it shows in your body. Try to slow your breath and drink water regularly. Avoid cold or fried food and stick to fresh, simple meals. Sleep on time and give your body the chance to repair itself. Avoid multitasking today. If possible, take a short walk or rest your eyes for some minutes during work. With patience, your strength returns naturally. Discover everything about astrology at Times of India , including daily horoscopes for Aries , Taurus , Gemini , Cancer , Leo , Virgo , Libra , Scorpio , Sagittarius , Capricorn , Aquarius , and Pisces . Read your detailed Horoscope Today and Horoscope Tomorrow here.
Time of India
an hour ago
- Time of India
Why UAE cares so much about dates: From AED 8 million festival prizes to Golden Visas for date farmers
UAE hosts over 44 million date palms, produces 76,000 tons annually, with 160 varieties, ranking sixth globally in production In a country known globally for its steel and skyline, it's the date palm, not the skyscraper, that's emerging as the UAE's most enduring emblem. This year, that symbolism took tangible form when H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of the Dubai Executive Council, visited the 'Dubai Dates' exhibition, organised by the Hamdan Bin Mohammed Heritage Center. There, he announced AED 1 million in prize grants to participants, a gesture that reaffirmed the palm's place at the heart of Emirati identity, diplomacy, and food security. This was not a ceremonial walkabout, but a statement of national priority. The royal support comes at a time when the date palm is doing more than feeding tradition, it's powering small businesses, influencing immigration policy, guiding sustainable agriculture, and even inspiring global soft power diplomacy. A desert legacy with modern currency The UAE was founded in 1971, but the legacy of the date palm in this region stretches back millennia. Long before oil wealth, Bedouin tribes and early settlers relied on the date palm to build their homes, heal ailments, and shade their oases. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Were So Beautiful Before; Now Look At Them; Number 10 Will Shock You Reportingly Undo Archaeological evidence from across the Middle East, including Abu Dhabi, shows that date farming has thrived here for over 5,000 years. In fact, in Liwa, the crescent-shaped oasis bordering the Empty Quarter, it was the backbone of survival that allowed human life to thrive in Arabia's unforgiving interior. Generations lived off this tree's fruits, fronds, trunks, and seeds. The Founding Father, Sheikh Zayed bin Sultan Al Nahyan, famously dubbed it 'the tree of life', and not as a metaphor. Today, the UAE is home to over 44 million date palms and produces 76,000 tonnes of dates annually, making it the sixth-largest producer in the world, with 160 recognized varieties. And yet, dates are more than agriculture. They are living heritage. They appear in Quranic verses, line the iftar tables of Ramadan, and are offered to guests as a gesture of welcome from Abu Dhabi to Al Ain. But now, they are also a pillar of future policy. With events like the Liwa Date Festival and the Dubai Dates festival and Exhibition, dates have gone from subsistence crop to showpiece of national ambition. A sacred fruit in sacred texts The palm's importance isn't just agricultural, it's spiritual. The Holy Quran references the date palm over 20 times, often linking it with blessings, provision, and paradise. Prophet Muhammad (PBUH) is said to have urged the faithful to break their fasts with dates, a Sunnah still widely observed during Ramadan. Scientific research has since confirmed what ancient wisdom always knew: dates are rich in vitamins, minerals, and antioxidants, making them a true superfood. In Islamic tradition, dates are given to the poor during zakat and are featured in Eid celebrations. In Judaism, palm branches are central to the feast of Sukkot, and in Christianity, Palm Sunday commemorates Jesus's triumphant entry into Jerusalem. Even Greek mythology associates the palm with Apollo, believed to have been born under one. Religiously, then, the palm is cross-cultural, pre-monotheistic, and persistently symbolic, a rare bridge between faiths in a region too often defined by division. That reverence translated directly into physical form. The first mosque in Islam, the Prophet's Mosque, was built with palm trunks and fronds. The Barasti or Areesh houses of early Gulf settlements were constructed entirely from palm components. This was not sustainability. It was survival. And it shaped an entire ethos: nothing is wasted. Every part of the tree had value. That same principle now powers the UAE's circular economy thinking and sustainability doctrine. Modern-day festivals: Revival with purpose Liwa Date Festival – The heritage anchor Held in Al Dhafra from July 14–27, the Liwa Date Festival isn't just a celebration of dates, it's a nation-building institution. Launched in 2004 under the patronage of Sheikh Hamdan bin Zayed Al Nahyan, the festival is now in its 21st year, blending tradition with innovation. Here's what makes it matter: 24 competition categories featuring varieties like Dabbas, Khalas, Shishi, Fardh, and Khenaizi AED 8 million+ in awards, incentivising quality farming and technological advancement Model farm displays showing cutting-edge irrigation and pest control Competitions for mango and lemon cultivation, highlighting crop diversification Traditional souks, crafts, date-based food products, falconry, and weaving A cultural village recreating Bedouin life, aimed at children and tourists Live auctions, where rare date clusters fetch thousands of dirhams Importantly, Liwa serves as a testing ground for food security innovation. The UAE's National Food Security Strategy 2051 is betting on smart agriculture in arid regions, and palm groves offer the perfect pilot. The trees require minimal water, survive extreme heat, and thrive in sandy soil, everything the UAE has in abundance. Liwa was also the cradle of the Al Nahyan ruling family, many of whom trace lineage to its groves. That symbolism isn't lost on a state that places lineage, land, and legacy at the centre of national storytelling. Dubai Dates Festival: Soft power and first Golden Visa for date farmers If Liwa is the spiritual home of the date palm, then Dubai is its modern showroom. The Dubai Dates Festival, held July 25 to August 1 at Qalaat Al Remaal, is now in its second edition, but has already positioned itself as a cultural diplomacy vehicle. With: 13 competition categories, including rare cultivars like Dubai Hilwa Awards for Homegrown Palm and Largest Cluster A week-long auction in partnership with Emirates Auction Heritage exhibits on pollination, irrigation, and harvesting techniques Food stalls offering sweets, syrups, and gourmet date products …it fuses commerce, education, and nation branding. It was here that two Thai women farmers, owners of Orawan Farm, home to over 5,000 fruit-bearing date palms, were awarded the UAE's Golden Visa, making them the first foreign date farmers to receive the 10-year residency. Known for creatively promoting the health benefits of dates and their cultural and religious significance in Emirati life on TikTok, their work caught the attention of officials during their visit to Dubai, where a meeting with Lt Gen Mohammed Ahmed Al Marri, Director General of GDRFA, led to a surprise nomination for the 10-year residency. It was a landmark moment. The Golden Visa typically favours entrepreneurs, scientists, and investors. Farmers have never been a category. But in recognising these two women, the UAE expanded its definition of value, from capital wealth to cultural contribution. Their case may be unique, but the message is broader: heritage is now a passport to opportunity. More than a fruit: A strategic resource The date palm continues to be vital as climate challenges intensify, thriving where many other crops struggle. No other plant has delivered so much for so little. Recognizing its cultural and environmental importance, UNESCO inscribed the traditional knowledge and cultivation of date palms on its Intangible Cultural Heritage list in 2022. Every summer, from June through October, markets flood with early-season varieties like Al Najal and Al Khatir, priced affordably and prized for their freshness. While imports from Oman, Saudi Arabia, and Iran coexist, local demand for UAE-grown dates remains high. But dates aren't just for consumption anymore: Palm trunks are reused in sustainable construction Fronds for eco-friendly fencing and baskets Date seeds processed for oils, animal feed, and even coffee substitutes Date syrup used as a natural sweetener and export product Palm hearts now appear on fine dining menus In many ways, the economy of the date is as diversified as the UAE itself. Rooted in the past, growing into the future Sheikh Hamdan's AED 1 million grant this year sends a clear message: the UAE is building a modern nation grounded in ancient wisdom amid rapid digitisation and artificial intelligence. Whether it's a golden visa for farmers, a festival that teaches children how to braid fronds, tourists learning the difference between Fardh and Khenaizi, or model farms reducing water waste, the date palm is being used as a platform for cultural preservation and strategic innovation. In the UAE, the future is vertical, but the foundation is, and always has been, rooted in the sand.
