good opportunity in the debt space.
"There is an improvement in this segment also. We are getting good proposals which are under consideration. I am sure this segment will look up by the end of the year," Roy said.
On the growth in premium witnessed by the company, Roy said the second quarter had seen excellent growth in premium collection and the current quarter would be a better one than the previous quarter.
"Q2 had been an outstanding quarter for us... July was a good month with decent growth. In August, we have seen outstanding growth. I am confident of achieving Rs 33,000 crore of new premium collection in this fiscal. Up to October 15, we have achieved Rs 15,000 crore. Q3 will be a better quarter than Q2," Roy said.
LIC also said its products would be compliant with new product guidelines within the extended time frame provided by the regulator.
"I am confident that by the time the new product regime comes in, all our big grossing products will be on the table," Roy said, adding that the new product regime would not have any adverse impact on growth of the industry.
Referring to board representations on companies in which LIC is holding significant stake, Roy said: "There may be some companies where we have significant stake but not having board representation. Since the beginning of this financial year, we have been engaging with those companies and are receiving encouraging response. We hope to get more board representations in the future."
He also said that the life insurer plans to add 2 lakh more agents this fiscal to its present 12 lakh agency force and also looks at more tie-ups with banks.
On the repository front, Roy said the strategy will be in place in the next few months.