About Me

My photo
Trichy, Tamil Nadu, India
Working as an Assistant in LIC of India, Rockfort BO, Trichy, TN. Having a strong belief that LIC's welfare is our welfare and always trying to work towards that. Also functioning as an office bearer of AIIEA Thanjavur Division.

Saturday, June 14, 2014

LIC likely to invest Rs 3.5-lakh cr in FY15

Source: BusinessStandard
 
Life Insurance Corporation of India is reportedly looking to invest up to Rs 3.5 lakh crore in FY15 in debt and equities. Of this, it is expected that Rs 40,000-50,000 crore will be put into the equities market.
The government-owned giant had booked profits of Rs 21,000 crore in the stock market during 2013-14.

Sources said a plan of investing Rs 3.2-3.5 lakh crore in 2014-15 will be discussed by the board of directors in a few days. In FY14, it had invested Rs 2.25 lakh crore, including about Rs 40,000 crore in the equity market.
Apart from the regular investment
activity, LIC participated in the government divestment of Bharat Heavy Electricals Ltd, the Specified Undertaking of UTI stake sale in Axis Bank and the Central Public Sector Enterprises' exchange-traded fund.

In 2013-14, LIC collected Rs 41,441 crore of individual premiums and Rs 48,682 crore of group premiums, totalling to Rs 90,124 crore.

With the new product guidelines for traditional products taking effect from January, several of LIC's popular products had to be withdrawn, to make way for newer ones. Officials said there a resulting slide in premium collection for January to March, due to less products for customers, down to about 20 at present, from 54 earlier.

LIC sources say there is not enough incentive from the market to launch unit-linked insurance products (Ulips). They might look into doing so if the Sensex hits 28,000.

No comments:

Post a Comment