LIC to increase equity investmentLife insurance Corporation is all set to increase its investment in equity markets on the account of increased investment in ULIPs.
Apnainsurance.com Research Bureau
17 Sep 2007
Life Insurance Corporation (LIC) is all set to increase its investment in equity markets on the account of increased investment in ULIPs.
LIC has already invested Rs.12, 000 crore in the equity market this financial year. The total investment of LIC in debt as on August 31, 2007 is Rs. 32000 crore.
LIC is planning
to double its investment in equity markets in next financial year.
According to the prudential norms laid down by Insurance Regulatory and Development Authority (IRDA), insurance companies can invest up to 80 per cent of the premium collected through ULIPs into equity market.