Kolkata: The Life Insurance Corporation of India (LIC), which had a market share was 63.64 per cent till March 31, has chalked up plans to revive some of its popular products to further widen its base in the country.
"We have been considering relaunching schemes like 'Jeevan Anand', 'Jeevan Sathi' and 'Jeevan Tarang' in a renewed form in view of these being widely popular and promise higher returns," LIC's Zonal Manager R R Dash said launching Market Plus - 1 scheme here today.
Dash said that LIC's gross investment in 2007-08 was over Rs 1.50 lakh crore, and the income generated from it was Rs 40,655 crore. Stating that company's profit from sale of equity last year was Rs 10,000 crore, he said, "LIC was not affected by fluctuations in the market as its investments were long-term."
He said that LIC's investment in infrastructure development was Rs 11,630 crore last year, while the cumulative figure was Rs 56,691 crore. Investments in the Socially-Oriented Sector last year was Rs 5,635 crore and cumulative investment Rs 32,321 crore, he said.
LIC's loan to the West Bengal government for development projects stood at Rs 1,583.26 crore, which was second highest in the country after the loan given to the Maharashtra government which was at Rs 1,622.58 crore,. He added.
The new scheme launched today is a unit-linked deferred pension plan and one of its highlights is the enhanced limit for investment in the equity market for secured and balanced funds.
Source:
PTI
Business Standard
Thursday, June 26, 2008
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