LIC to invest Rs 40k cr into equities

Life Insurance Corporation of India (LIC) is looking at 25% growth in new premium income in FY10, after it registered a growth of 69.33% in the first premium collection in April 2009. The insurer is also planning to invest Rs 40,000 crore in equities in 2009-10. The country s largest insurer had collected Rs 52,000 crore from new premium income in 2008-09. We are targeting a growth of 25% in the first premium income and 20% growth in total premium income. It will come from the mix of traditional and unit linked plans, said TS Vijayan, chairman, LIC, at an interactive ...

More...