Life Insurance Corporation of India is expected to have a corpus of Rs 2 lakh crore available for investment in the next fiscal. The corporation will have an investable corpus of close to Rs 2 lakh crore in the financial year 2009-10, an increase of around Rs 40,000 crore from the Rs 1,60, 000 crore in the current fiscal, said Mr Thomas Mathew, Managing Director, LIC. Of the Rs 1,60,000 crore, around Rs 40,000 crore was invested in the equities market, Mr Thomas said. He w as speaking at the sideline of a seminar organised by Crisil and NSE here recently. The investable corpus would be invested in a mixture of government securities, equity markets, infrastructure bonds and corporate debt papers as per the guidelines of IRDA.The corporation, which collected Rs 43,000 crore in new business premium in 2007-08, is confident of collecting the same amount in this fiscal as well. The response to LIC’s two traditional products — Jeevan Aastha and Jeevan Varsha — has been good and could help prop up premium collections, he said.
Source:BusinessLine
Posts
No comments:
Post a Comment