It is indicated that about 35 percent of the total investment may be invested in shares of listed companies in India. It will come to around Rs 80,000 to 85,000 crore.
Notably, LIC’s record investment plan comes at a time when foreign investors are withdrawing from most emerging stock markets, including India, due to rising risk.
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High interest rates are now keeping investors away from riskier assets. A further strengthening of the US dollar is also a setback.
On March 24, foreign investment firms sold Indian stocks worth Rs 1,720.44 crore. This is when domestic institutional investors, including insurance companies, bought shares worth Rs 2,555.53 crore.
Premiums fell in February
LIC’s premium income fell by 32 percent in February. The decline in premium income was due to decline in the group’s single premium segment. LIC’s premium is at Rs 11,879 crore. This is in line with LIC’s Rs 17,849 crore in the same period a year ago.
In February, the premium of private sector insurance companies increased by 10 percent. 10,968 crores earned by companies from premium.
