LIC’s equity investment target cut by a third

Life Insurance Corporation of India | Insurance | BFSI | BSE: 543526 | NSE: LICI

30 Nov 2011 Evaluate

Life Insurance Corporation (LIC), the first port of call for the government to save a slumping equity market, has cut its equity investment target by a third this fiscal as an increasingly hazy economic environment leads to a decline in sale of insurance policies. The insurer, which controls three-fourths of the life insurance industry, will this year invest Rs 40,000 crore, down from the Rs 60,000 crore it planned at the beginning of the fiscal when economic outlook was rosy. The nation’s biggest institutional investor has bought shares worth Rs 20,000 crore this year and will invest the rest over the next four months.

Peers

Company Name	CMP
ICICI PrudentialLife	471.25
General Ins. Corpn.	349.55
Star Health & Allied	562.20
Niva Bupa Health Ins	79.97
ICICI Lombard Gen.	1459.00
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