State-owned LIC is considered a strategic asset, commanding more than 60% of India's life insurance market with assets of more than $500 billion. While the government is planning to allow foreign investors to participate in what is likely to be the country's biggest-ever IPO worth a potential $12.2 billion, it is leery of Chinese ownership, the sources said.source https://economictimes.indiatimes.com/industry/banking/finance/insure/india-likely-to-block-chinese-investment-in-insurance-giant-lics-ipo-sources/articleshow/86423303.cms
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