LIC's market share 74.18%

Written by Agencies | Mumbai, September 4: | Updated: Sep 14 2007, 23:06pm hrs
Insurance giant LIC had a healthy market share of 74.18 per cent in the last financial year with a premium collection of Rs 55,934.6 crore while nearly a dozen private insurers accounted for the rest 25.82 per cent.

However, in terms of number of new policies, the state- owned company enjoyed a much better market share of 82.83 per cent with 3.82 crore new policies, LIC Chairman T S Vijayan said in his presentation of the financial performance in 2006-07.

"In total LIC planned to invest around Rs 117 lakh crore this financial year of which Rs 52,000 crore had been already invested," he said.

LIC's investment in the capital market as on March 31, 2007 stood at Rs 1,24,643 crore and it intended to invest between Rs 10,000 to 12,000 crore in equities and preference shares in the current fiscal.

Till March 31, 2007 LIC's total investment was of

Rs 6,13,266.58 crore of which 2,72,497.82 crore was invested in Central Government securities, Rs 64,284.80 crore in State Government and other approved securities, Rs 73,746 crore in infrastructure and social investments and Rs 44,217 crore in bond and debentures.

The popular unit-linked insurance plans (ULIP) contributed 80 per cent in LIC's new business premium of Rs 39,541 crore as compared to the traditional business products.