LIC to invest Rs 2 L cr in FY11, net up 11%

Country s largest life insurer s, Life Insurance Corporation (LIC), which plans to invest around Rs 2 lakh crore this fiscal, valuation surplus has increased by 11% to Rs 23,478 crore during 2009-10 in comparison with Rs 21,152 crore in the previous fiscal. The corporation doesn t have a concept of profit and its annual net income is termed as valuation surplus which is shared between the centre and customers of LIC in 5:95 ratio. In 2009-10 LIC paid Rs 1,029 crore as dividend to the government. Total premium income of the the life insurance behemoth rose by 18.32% to Rs 1,85,986 crore ...

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