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LIC targets 15% growth in 1st yr premium income in FY14

In FY13, LIC registered a 6.5% fall in new premium collection at Rs. 762 billion compared to Rs. 815 billion in FY12

July 08, 2013 3:54 IST | India Infoline News Service
Life Insurance Corporation of India (LIC) plans to invest Rs. 2.47 trillion in both equity and bonds in the current financial year.

The country's largest insurer made an aggregate investment of Rs.2.25 trillion in FY13. The insurer would increase its aggregate investment by 10% this year.
However, the increase in exposure to equity market, secondary or primary, would depend on the market condition, LIC chairman SK Roy said.

Speaking about the earnings, Roy said LIC expects to achieve a 15% growth in first year premium income in FY14 as against a contraction in FY13.

In FY13, LIC registered a 6.5% fall in new premium collection at Rs. 762 billion compared to Rs. 815 billion in FY12.

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