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LIC Buys Shares Worth Rs. 44,000 Crore Between April-November 2017


Mumbai: Life Insurance Corporation of India (LIC) said on Tuesday that it has invested Rs.44,000 crore in the equity markets between April-November this year, a rise of 52 per cent over the year-ago period. It had invested around Rs. 29,000 crore in April-November period in the previous fiscal.

In the first half of the current fiscal, the life insurance major had more than doubled its investment in equities to Rs. 39,224 crore from Rs. 18,000 crore in the same period last fiscal.

"This year the government's disinvestment program has picked up in the first half and, we, being the long term investor have invested there," its chairman V K Sharma told reporters here on Tuesday.

In the previous fiscal, LIC had invested Rs. 47,000 crore into equities.

Sharma, however, said in the rest of the fiscal, LIC will not be an aggressive buyer of equities.

"We don't want to buy extra in equities...we are contrarians. Market is at its peak. We will keep on doing routine sales and purchases of equities but we will not be aggressive in buying equities," Sharma said.

He said LIC has seen some dip in its income from investments in debt instruments due to the falling interest rate scenario.

The company wants to invest more in government securities as it will be beneficial for policy holders and pensioners.

 "We will like RBI to issue more long-dated securities. Our appetite for g-sec will be Rs. 10,000 to Rs. 20,000 crore for the coming four months of this fiscal," Sharma said.

For the six months ended September, LIC's first year premium grew 24 per cent to Rs.68,224.29 crore.

Total premium income grew 12 per cent to Rs. 1,48,037 crore in the April-September period as against Rs. 1,32,257 crore collected during the corresponding period last year.

Its gross total income registered a growth of 13 per cent at Rs. 2,50,267 crore in the first half as compared to Rs. 2,22,350 crore in the year-ago period.

Total assets stood at Rs. 27,25,808 crore as compared to Rs. 23,90,056 crore for the corresponding period last year, a growth of over 14.04 per cent.

Total policy payouts amounted to Rs. 76,126 crore as compared to Rs. 73,546 crore in the year ago period. It includes a payout of Rs. 35,482.07 crore for claims outgo covering 79,74,383 claimants for the half year ending September 2017 as against Rs. 35,643.75 crore and 73,22,250 claimants in the corresponding period previous year.

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