Life Insurance Corporation (LIC) plans to pump in about Rs 61,000 crore in the equity market during this fiscal. Increase in exposure to equity market secondary or primary market would depend on market condition. This year the company has made good profits and till mid-October LIC has earned Rs 12,000 crore by churning portfolio. Last year, total profit by churning portfolio was Rs 9,400 crore full year.
LIC's new premium stood at Rs 50,605 crore compared to Rs 30,469 crore during the same period last year, registering an increase of 66 per cent. Overall, the life insurance industry mopped up new premium of Rs 69,706 crore during April-October this year, up from Rs 46,689 crore in the corresponding period last fiscal. The Insurance Regulatory and Development Authority (IRDA) had earlier launched a probe to ascertain whether LIC had violated rules by transferring profits of one scheme to another to cover up the losses in some of its funds.crackcrack
Company Name | CMP |
---|---|
ICICI Prudential | 545.00 |
Go Digit General Ins | 298.45 |
Star Health and Allied | 519.70 |
Life Insurance Corp | 1012.70 |
HDFC Life Insurance | 550.10 |
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