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LIC makes Rs 19,000-cr profit from equities in FY17

Supports sale of Ruias' stake in Essar Oil to Rosneft

Subrata Panda  |  Mumbai 

Life Insurance Corporation (LIC), the country’s largest insurer, booked profits of Rs 19,000 crore from its equity investments in financial year 2016-17, LIC Chairman V K Sharma said on the sidelines of the launch of a new endowment product, Jeevan Umang, on Tuesday.   In its equity portfolio, the state-owned life insurance player benefited from the 17 per cent Sensex rally during the year, resulting in a 72 per cent increase in its profits from equities, compared with Rs 11,000 crore in FY16. According to provisional data, LIC invested around Rs 40,000 crore in equities in ...

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First Published: Wed, May 17 2017. 01:58 IST
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