LIC earns Rs. 10, 000 crore profit from secondary operationsLife Insurance Corporation (LIC) has booked a total investment income of Rs 40,655 crore from secondary operations in 2007-08. The total profit booked is Rs. 10, 000 crore.
Apnainsurance.com Research Bureau
15 Sep 2008
Life insurance Corporation (LIC), has booked a total investment income of Rs 40,655 crore in 2007-08. The total profit booked is Rs. 10000 crore. LIC has also given a loan of Rs. 1,583.2 crore to the West Bengal government in year 07-08 as a state development loans.The marked to market investment of LIC grown to Rs 7.51 lakh crore on March 2008, over Rs 6.7 lakh crore in the 06-07.Asset under management (AUM) of market plus in year 08 was Rs.40000 crore, and the total AUM of unit-linked insurance plans was Rs. 77,155 crore till March 2008.
In 2007-08, LIC invested Rs 11,630 crore in the infrastructure and Rs. 5635 crore in social sector. The cumulative investment stood at Rs.56, 691 crore and Rs. 3, 2321 crore in Infrastructure and social-sector respectively.