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KOLKATA: Life Insurance Corporation of India (LICI), which is preparing for its Initial Public Offer (IPO) despite volatility in the stock market, has already made a profit of Rs 13,000 crore from its equity portfolio till August this year, a top official said on Wednesday.
KOLKATA: Life Insurance Corporation of India (LICI), which is preparing for its Initial Public Offer (IPO) despite volatility in the stock market, has already made a profit of Rs 13,000 crore from its equity portfolio till August this year, a top official said on Wednesday. KOLKATA: Life Insurance Corporation of India (LICI), which is preparing for its Initial Public Offer (IPO) despite volatility in the stock market, has already made a profit of Rs 13,000 crore from its equity portfolio till August this year, a top official said on Wednesday.
The insurance industry had lost about Rs 45,000 crore in new and renewable premiums in the last fortnight of FY20 due to the COVID-19 pandemic. However, we have recovered well since unlocking and registered healthy growth," LICI Managing Director Raj Kumar said at a webinar organised by Merchants' Chamber of Commerce and Industry. He further said, "The market now has recovered by 32 per cent from the March lows.

LIC
1. LIC has booked a profit of Rs 13,000 crore from equity operation and is still a net investor of Rs 28,000 crore in the market."
2.The insolvency ratio of the insurer till March was 155 per cent, which was at a "comfortable" level for the company, he said.
3.Speaking about the mega IPO, Kumar said, "The government's intention is to complete it by March. I can only tell that we will try to abide by the instructions."
4.In the 2020-21 budget, Finance Minister Nirmala Sitharaman had announced the government's plan to sell a part of its holding in LICI by way of Initial Public Offer.
5.The IPO of LICI would contribute a huge chunk to the government's budgeted disinvestment kitty of Rs 2.10 lakh crore this fiscal.
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