LIC''s market share at 74.18 per cent; plans Rs11,700,000 crore investment
15 Sep 2007
Mumbai: Life Insurance Corporation of India Ltd (LIC) reported a healthy market share of 74.18 per cent in the last financial year with a premium collection of Rs55,934.6 crore while nearly a dozen private insurers accounted for the rest 25.82 per cent.
The state-owned insurer enjoyed a much better market share of 82.83 per cent in terms of number of new policies,with 3.82 crore new policies, LIC cairman T S Vijayan said.
"In total LIC planned to invest around Rs11,700,000 crore this financial year of which Rs52,000 crore had been already invested," he said while presenting LIC''s financial performance for 2006-07.
LIC''s investment in the capital market as of 31 March 2007 stood at Rs124,643 crore and it intended to invest between Rs10,000 to 12,000 crore in equities and preference shares in the current fiscal, he said.
Till 31 March 2007 LIC''s total investment was Rs613,266.58 crore of which 272,497.82 crore was invested in central government securities, Rs64,284.80 crore in sate government and other approved securities, Rs73,746 crore in infrastructure and social investments and Rs44,217 crore in bond and debentures.
The
unit-linked insurance plans (ULIP) contributed 80 per
cent to LIC''s new business premium of Rs39,541 crore,
he said.
