LIC's total investments touch Rs 14.8-lakh crore
Source: Business Standard
India's largest insurer to invest Rs 2.25-lakh crore in FY14
The total investments of Life Insurance Corporation of India (LIC) at the end of FY13 stood at Rs 14.86 lakh crore. According to LIC's annual report for 2012-13, the country's largest insurer had Rs 14.84 lakh crore worth of investments in India and Rs 2,408.61 crore worth of investments abroad.
In FY14, LIC plans to invest Rs 2.25 lakh crore in government securities, bonds, infrastructure, debenture and equity, of which 15-20 per cent would be in equity.
The insurer had booked Rs 21,000 crore profit from sale of equities and churning of the portfolio. According to an earlier presentation by LIC to a Parliament standing committee on finance, total investments at the end of March 31, 2012 was Rs 13.49 lakh crore.
Usha Sangwan, managing director of LIC, had recently said the insurer has planned to invest Rs 40,000 crore in equity this financial year. "We have already invested Rs 33,000 crore. We have also booked profits of Rs 14,000 crore, since there has been a continuous churn in the portfolio," she had said.
Usha Sangwan, managing director of LIC, had recently said the insurer has planned to invest Rs 40,000 crore in equity this financial year. "We have already invested Rs 33,000 crore. We have also booked profits of Rs 14,000 crore, since there has been a continuous churn in the portfolio," she had said.
With respect to the investment in infrastructure and the social sector, LIC invested Rs 10,995.33 crore in power, Rs 4,121.74 crore in housing, Rs 35.72 crore in water supply and sewerage, and Rs 5,012.13 crore in other infrastructure in FY13.
The insurer plans to have 12 per cent growth in new business premium this financial year. LIC Chairman S K Roy had earlier said that although it had budgeted for 12 per cent in first premium growth, the insurer is hopeful of achieving more growth........KSP
The insurer plans to have 12 per cent growth in new business premium this financial year. LIC Chairman S K Roy had earlier said that although it had budgeted for 12 per cent in first premium growth, the insurer is hopeful of achieving more growth........KSP
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