In 1956, all life insurance companies were nationalized to form LIC to incr...
The country’s largest insurer, Life Insurance Corporation of India (LIC), will be investing a huge chunk of money in equities this financial year.
While its investment target is Rs 40,000 crore, so far, LIC has invested only around Rs 25,000 crore in equities. This leaves room for another Rs 15,000 crore which it plans to invest in equities.
According to media reports, the cash-rich insurer is also interested in buying shares owned by the Special Undertaking of Unit Trust of India (SUUTI). The bulk of these shares are rumored to include shares of blue chip companies like Larsen & Toubro (L&T), Axis Bank and ITC limited.
A senior official at LIC said, “We will be interested, as these are very good investment options. Funds won’t be a problem as we will be investing more than Rs 15,000 crore in equities in the last quarter.”