About Me

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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.

Wednesday, July 30, 2014

Know Your LIC...! (Profile 2014)

LIC Profile 2014

Friday, July 18, 2014

LIC to invest Rs2.25 trillion in markets this fiscal

Full Article: livemint
State-owned Life Insurance Corp. of India (LIC), the country’s biggest insurer, expects to invest at least `2.25 trillion in the financial markets in the year to next March, seeking to tap a potential upturn in the economy after the presentation of the national budget on 10 July.
The expected investment by LIC marks an increase of `15,000 crore, or 6.6%, in the money the insurer spent buying securities in the last fiscal year. The figure may be revised higher, said two senior officials at LIC, the single largest investor in India’s financial markets.
Most of the `2.25 trillion of estimated investment by LIC could be allocated to government securities because equity markets have been trading high for several months and the insurer typically is used to selling shares on market highs and buying stocks on lows.
In fiscal 2014, LIC earned `90,123.76 crore in first-year premiums. That makes up three-quarters of the total first-year premium collected by the life insurance industry, in which LIC competes against 23 private-sector firms.
Of about 6,000 listed firms, LIC held stakes in at least 361 at the end of March. Only 957 firms have disclosed their June-end shareholding pattern so far; LIC has a holding in 125 of them.
To read Full Article: livemint

LIC's Rs 1,280 crore rescue act for 3 banks

Source: DNA
A clutch of public sector banks are knocking at the doors of state-owned insurance giant Life Insurance Corporation (LIC) to raise funds.

At least three banks -- Central Bank of India, United Bank of India and Bank of Maharashtra -- will make a preferential allotment to LIC to raise funds urgently needed for expansion. Banks need more money to fund their growth and meet regulatory requirements.

Under preferential allotment, shares are allotted to a preferred institution without going to the open market.

Finance minister Arun Jaitley had said during