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.