E-Paper
LIC’s investments in equities down 21% to Rs 46,850 crore in April-January
DIIs were net buyers of equities worth Rs 86,605.25 crore in the first 10 months of FY19, while the Sensex climbed 10%.LIC‘s profit from the investments in equities in the period increased 42.36% from Rs 16,348.81 crore in the year-ago to Rs 23,273.85 crore
Life Insurance Corporation of India (LIC) invested Rs 46,850.33 crore in equities in the first 10 months of FY20, down 20.75% from the amount invested in the same period last fiscal year, according to official data. The state-owned insurer had invested Rs 59,115.67 crore in the April-January period of FY19.
According to LIC, its profit in the first 10 months of FY20 from investments in equities rose 42.36% to Rs 23,273.85 crore, from Rs 16,348.81 crore a year ago .
During the period under consideration, domestic institutional investors (DIIs) including mutual funds and insurance firms, had invested Rs 56,827.37 crore in the stock markets, while the benchmark Sensex rose 5.3%.
DIIs were net buyers of equities worth Rs 86,605.25 crore in the first 10 months of FY19, while the Sensex climbed 10%.
According to a press statement, LIC breached the Rs 1.5 trillion mark in new business premium for the first time ever in the 10-month period to maintain its dominant position in the industry, growing 17.48% year-on-year in terms of first-year premium to Rs 45,199 crore.
It registered 29.42% year-on-year increase in the number of policies sold to 19,585,635.
So far in FY20, the state-owned insurer paid 14,293,289 maturity claims amounting to Rs 69,748 crore. It also settled 599,881 death claims amounting to Rs 9,866 crore.
LIC’s total income grew to Rs 2.97 trillion for the 10 months ended 31 January 2020, up 17.79% from Rs 2.52 trillion in the year-ago period.
The state-owned insurer total assets stood at Rs 32.2 trillion as of September 2019 compared to Rs 29.8 trillion in the corresponding period of 2018, growing 7.92%.
In FY19, LIC generated the highest ever total valuation surplus of Rs 53,214.41 crore, up 9.9% over the previous year, and paid dividend of Rs 2,610.74 crore to the government to break yet another record.
