LIC
Saturday, October 4, 2014
LIC investment to cross Rs 2.5 lakh crore in FY'15
Source: ET
Country's largest insurer LIC has lined up over Rs 55,000 crore for investment in the equity market in the current fiscal, a part of which will be used for picking up stakes in PSUs during the disinvestment process.
"We will invest a total of Rs 55,000 crore or even more in the equity market in the current fiscal," LIC Chairman SK Roy told PTI.
Asked how much LIC has been earmarked for the upcoming disinvestment, Roy said that Rs 55,000 crore "covers all" type of investments.
LIC had picked up stocks worth Rs 51,000 crore last fiscal and investments were made across sectors.
The public sector insurer has been a key investor in the disinvestment programme of the government.
The government recently gave go ahead to disinvestment of its part stakes inONGC, CIL and NHPC, which together may earn Rs 43,000 crore to the exchequer. It is also planning to sell 5 per cent stake in SAIL and 10 per cent each in RINL and HAL in the current fiscal.
Roy also informed LIC investment in the bond market may touch Rs 2.5 lakh crore in the fiscal ending March 2015.
"We will invest a total of Rs 55,000 crore or even more in the equity market in the current fiscal," LIC Chairman SK Roy told PTI.
Asked how much LIC has been earmarked for the upcoming disinvestment, Roy said that Rs 55,000 crore "covers all" type of investments.
LIC had picked up stocks worth Rs 51,000 crore last fiscal and investments were made across sectors.
The public sector insurer has been a key investor in the disinvestment programme of the government.
The government recently gave go ahead to disinvestment of its part stakes inONGC, CIL and NHPC, which together may earn Rs 43,000 crore to the exchequer. It is also planning to sell 5 per cent stake in SAIL and 10 per cent each in RINL and HAL in the current fiscal.
Roy also informed LIC investment in the bond market may touch Rs 2.5 lakh crore in the fiscal ending March 2015.
LIC eases claims settlement rules for Jammu and Kashmir flood victims
Source: ET
State-run insurer LIC has relaxed claim settlement procedure for those affected in floods in Jammu and Kashmir and a special help desk has been set up for expeditious claim processing.
LIC has extended concessions and relaxations to claimants with respect to settlement of death and disability benefit claims, the largest insurance company said in a statement.
"These concessions are in the nature of simplified death claim settlement, proof of death or missing, loss of policy document etc, similar to concessions and relaxations extended to the victims of floods and landslides in Uttarakhand in June 2013," it said.
In addition, for policyholders residing in the flood affected areas, LIC has extended waiver of interest on the overdue premium, it said.
LIC has set up special help desk at Srinagar divisional office and Northern zonal office at New Delhi to facilitate expeditious settlement of claims.
LIC has extended concessions and relaxations to claimants with respect to settlement of death and disability benefit claims, the largest insurance company said in a statement.
"These concessions are in the nature of simplified death claim settlement, proof of death or missing, loss of policy document etc, similar to concessions and relaxations extended to the victims of floods and landslides in Uttarakhand in June 2013," it said.
In addition, for policyholders residing in the flood affected areas, LIC has extended waiver of interest on the overdue premium, it said.
LIC has set up special help desk at Srinagar divisional office and Northern zonal office at New Delhi to facilitate expeditious settlement of claims.
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