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| LIC to pump in Rs 40,000 cr in equities in 2009 |
| PTI / Kolkata Jun 23, 2009, 18:23 IST |
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Life Insurance Corporation of India today said it expects to pump in around Rs 40,000 crore in equities in 2009-10.
"Last year, we infused Rs 40,000 crore in equities. We expect to do the same this year," LIC Chairman T S Vijayan told reporters here.
As per exposure norms, LIC was also investing in government papers and corporate debt.
During the current financial year, LIC is eyeing a premium income growth of 20 per cent, Vijayan said, adding that premium collection had shown a good growth in the first three months of 2009-10.
LIC had suffered a setback in terms of premium income in last fiscal, he said, adding that LIC collected a premium income of Rs 1,55,000 crore, which included first premium income of Rs 52,000 crore.
Vijayan said that LIC would evenly sell both linked and non-linked products.
Asked if LIC needed to shore up its capital base as the paid-up capital was only Rs 5 crore, Vijayan said that there was no need for that.
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