Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Money / Personal-finance/  LIC plans to invest Rs2,00,000cr across asset classes in FY11
BackBack

LIC plans to invest Rs2,00,000cr across asset classes in FY11

LIC plans to invest Rs2,00,000cr across asset classes in FY11

Premium

Mumbai: State-owned insurance giant, Life Insurance Corporation of India (LIC) plans to invest Rs2,00,000 crore across asset classes in FY11, up from the Rs1,92,000 crore last fiscal.

“We have internally targeted to invest two lakh crore across asset classes by end-this fiscal," LIC’s chairman T S Vijayan told reporters here after announcing a valuation surplus on investments of over 3,000 crore last fiscal.

The targeted premium collection for the year is Rs2,01,000 crore, he said.

In the first quarter of 2010-11, LIC invested Rs39,000 crore, of which Rs10,000 crore was in equities, he said.

Vijayan, however, refused to give the equity component of the targeted 2,00,000 crore investment, saying it depends on the premium collection from the Unit-Linked Insurance Policies (ULIP).

For 2009-10, ULIPs’ share in the total premium pie of Rs1,85,000 crore was 75 % and the total equity investments made by LIC stood at Rs61,000 crore.

If the markets are good, people invest in ULIPs and if the interest rates are good, their preferences turn to non-linked policies, Vijayan said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 06 Aug 2010, 04:15 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App