LIC Gains Rs 13,000 Crore From Equity Portfolio Till August

LIC gains Rs 13,000 crore from the equity portfolio till August. It is noteworthy that Finance Minister Nirmala Sitharaman announced the government’s plan to sell some stake in LIC through an IPO in the 2020-21 budget.

The Life Insurance Corporation of India (LIC), which is preparing to launch an initial public offering (IPO) to be listed in the Share Market, has gained Rs 13,000 crore from its equity portfolio till August.

A senior official of the insurance company gave this information on Wednesday. LIC Managing Director Raj Kumar said that the insurance company has received Rs 87,300 crore from the renewal premium of the insurance policy till August this year.

In a webinar (seminar conducted via the internet) of the Merchants Chamber of Commerce and Industries, Kumar said, ‘About 45,000 crore rupees in new and premium renewal items in the last fortnight of FY 2019-20 due to Covid-19 epidemic to the insurance industry.

Loss of However, with the ‘lockdown’, relaxed, the situation has improved and better growth has been achieved. He said, “The market has improved by 32 percent from the low level in March.

LIC gains Rs 13,000 crore from equity operations and the company is still a net investor with Rs 28,000 crore in the market. Kumar said that online premium collection has increased.

Although premiums are coming from large insurance policies so far, the premium collection has come down in smaller schemes. He said that the debt solvency ratio of the insurance company until March is 155 percent, which is a satisfactory level.

Regarding the IPO, Kumar said, “The government intends to complete it by March. I can only say that we will try to work as instructed.

It is noteworthy that Finance Minister Nirmala Sitharaman announced the government’s plan to sell some stake in LIC through an IPO in the 2020-21 budget. The sale of a stake in LIC is expected to help the government in the current financial year disinvestment program.