Where LIC Parked Your Money In September Quarter
A signage bearing the name of LIC. (Source: PTI)

Where LIC Parked Your Money In September Quarter

Life Insurance Corporation of India invested around Rs 50,000 crore worth of policyholders’ money in the quarter ended September.

More than 70% of that went into government bonds, according to data available on the website of the public sector insurer, which the Narendra Modi administration wants to take public. LIC had invested Rs 2.8 lakh crore in the April-June period.

The insurer invested Rs 15,571 crore in equity shares during the reported quarter compared with Rs 28,104 crore in the preceding three months.

LIC has increased disclosures on its operations as it prepares to list on the stock exchanges, as was announced in the Union Budget 2020-21. India looks to raise more than $10 billion from the IPO as it looks to generate resources amid revenue shortfall worsened by the pandemic.

During April-September 2020, LIC had Rs 34.06 lakh crore worth of total assets, of which Rs 31.60 lakh crore has been invested. The insurer generated Rs 1.28-lakh-crore income on all these investments as of September. Total income from investments during the reported quarter stood at Rs 71,090 crore.

Fund-wise, most of the investments were made in life insurance fund. That was followed by pension fund and linked plans.

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