LIC to invest Rs 50,000 crore in stocks in FY'10 <javascript:decreaseFontSize();><javascript:increaseFontSize();>
Jun 24 2009 17:09 hrs IST , New Delhi By *PTI* Life Insurance Corporation of India (LIC) on Wednesday said it will invest nearly Rs 50,000 crore in the equity market this fiscal. "We expect to invest nearly Rs 50,000 crore in equities this year against Rs 40,800 crore last year," LIC Managing Director Thomas Mathew told reporters here. So far in this fiscal, the largest life insurer has invested about Rs 8,000 crore in the equities. As per exposure norms, LIC is also investing in government papers and corporate debt. Yesterday, LIC Chairman T S Vijayan said during the current fiscal, the life insurance company is eyeing a premium income growth rate of 20 %. As regard new premium income, which declined by nearly 10 % in 2008-09, he said the company is expecting a growth rate of 25 % during the current financial year. LIC collected a premium income of Rs 1,55,000 crore in 2008-09, which included first premium income of Rs 52,000 crore. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
