Insurance News
Prev Next
LIC earned over Rs 180k crore from investments in FY17
22-May-2017 (09:41)
Insurance premiums set to go up under GST regime
22-May-2017 (09:36)
LIC to pay 40% more dividend, bonus due to higher profits from investments
18-May-2017 (19:35)
LIC books 72% profit at Rs 19,000 crore from equity play in FY17
17-May-2017 (09:29)

Life Insurance Corporation (LIC), the country's largest insurer, booked profits of Rs 19,000 crore from its equity investments in financial year 2016-17, LIC Chairman V K Sharma said on the sidelines of the launch of a new endowment product, Jeevan Umang, on Tuesday.

In its equity portfolio, the state-owned life insurance player benefited from the 17 per cent Sensex rally during the year, resulting in a 72 per cent increase in its profits from equities, compared with Rs 11,000 crore in FY16. According to provisional data, LIC invested around Rs 40,000 crore in equities in FY17; in FY16 the insurance giant had put in Rs 50,000 crore.

The chairman said LIC's equity investments in FY18 would be about 20 per cent of its investible surplus, which would be in line with the average it has maintained over the past few years.

"We are not a player in the market, but we invest in the market for customers' returns. We keep an eye on the market and when we feel that there is a reasonable scope of investing, that is when we put money in the market. But, our focus is on long-term investment," he said.

In FY17, LIC saw its first-year premiums jump 27.2 per cent year-on-year (y-o-y) to Rs 1.24 lakh crore on a surge in single-premium policy sale and falling interest rates. Its market share went up from 70.61 per cent to 71.07 per cent in the same period.

While LIC projected double-digit growth in both single and non-single new business premium (84.22 per cent and 10.18 per cent, respectively), there was a decline in the number of policies sold in FY17, which declined to 20.1 million from 20.5 million in FY16.

Sharma said the reason for the fall was of lack of availability of new products. The Insurance Regulatory and Development Authority of India (Irdai) in 2013-14 had discontinued around 80-100 products. Since then, LIC has 26-27 products in the market and it would take a couple of years for them to return to the growth levels of earlier years.

The new product LIC launched on Tuesday is a long-term endowment policy covering up to 100 years of age and offering a combination of income and protection, including an assured annual return of eight per cent.

Jeevan Umang provides for annual survival benefits from the end of the premium paying till the age of 99 and a lump-sum payment at the time of maturity or on death of the policyholder during the policy term, Sharma said.

Policy holders from the age of 90 days to 55 years can buy this policy. There is no upper limit on the basic sum assured but it should be in the multiple of Rs 25,000 with premium paying terms having option of 15, 20, 25 and 30 years.

The unique selling proposition of the plan is that guaranteed survival benefit is payable on the life assured surviving to the end of the premium paying term, provided all due premia have been paid or the paid-up value, for instance Rs 2 lakh if the policyholder has paid three premiums.
LIC unveiled its new product 'Jeevan Umang'
16-May-2017 (19:24)
LIC divides investment portfolio among Three MDs for more balanced decisions
15-May-2017 (09:47)
SBI Life Insurance set to hire eight banks for up to $1 Billion IPO
12-May-2017 (10:33)
HDFC Life Insurance ties up with Rubique to offer life insurance policies on its digital platform
12-May-2017 (09:48)
Exide Life Insurance posts 27 per cent jump in net profit at Rs 112 crore
10-May-2017 (16:51)
Insurance regulator IRDAI's new web aggregator's rules to curb aggressive selling
10-May-2017 (14:01)
IRDAI forms panel for reinsurance framework review
08-May-2017 (19:25)
Irdai issues new outsourcing guidelines for Insurance Companies
08-May-2017 (09:48)
Edelweiss Tokio Life Insurance unveiled its new product 'POS Saral Nivesh'
05-May-2017 (17:43)
SBI Life Q4 net profit up 31% at Rs 336 crore
03-May-2017 (17:01)
Connect with us :   
About us
Our Services
Core Values
Investor Relations
Product & Services
Institutional Broking
Clearing Services
Trade & Products
Globe Connect Pro
Globe Trade Smart
Globe Connect Mobile/Tablet
Globe News Connect
Globe e-KYC Application
Back Office
Back Office
KYC/KDC Status
Mutual Fund
RMS Policy
Download Forms
Useful Links
Exchange Holidays
Policies, Procedures, Rights, Obligations and RDD
Guidance Note on FATCA and CRS May 2016
Right and Obligation, RDD, Guidance Note in Vernacular Language
In case of any grievances pleae write to / (For Trading) (For DP) (For PMS) (For Commodities)
SEBI Regn. No. NSE.:INB/INF/INE 230663732, TM No.:06637, Clearing No.- M50302 | SEBI Regn. No. BSE.:INB/INF/INE 010663731, Clearing No.- 3179 | SEBI Regn No. MSEI :INB/F 260663738, INE 260663732, TM Code-1004, Clearing Member Code- 4 | USE SEBI Regn no. - INE 270663732 , CM code: 06637 | SEBI Regn for DP : IN-DP-NSDL-97-99, NSDL- DP ID: IN300966, CDSL DP ID: 12020600 | Research Analysts Regn No. INH100001187 | PMS Regn No. INP000002361
* Through subsidiary Globe Commodities Ltd. --> Commodity Membership No.: NCDEX- FMC Regn. No. NCDEX/TCM/CORP/0004, TM Code-00012 | MCX- FMC Regn. No. MCX/TCM/CORP/0628, CM Code-8550 | ICEX- FMC Regn. No. ICEX/TCM/CORP/0011, TM Code- 1009 | NMCE- FMC Regn. No. NMCE/TCM/CORP/0018, TM Code-CL0111 | ACE - FMC Registration no.- ACEL/TCM/CORP/0163, TM code- 4001 | UCX FMC Regn. No.: UCX/TCM?CORP/0014, TM Code- 10014 | NCDEX Spot Exchange Membership no.- NCDEXSPOT-CR-07-10011
** Through step in subsidiary Globe Comex International DMCC --> DGCX **TM Id.1064, CM Id.3064*
"We also do Pro-Account trading in Commodity Segment.."
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."
Attention Investors:
"Prevent Unauthorised transactions in your account --> Update your mobile numbers/email IDs with your Stock Brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day .......... Issued in the interest of investors"
"Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL/CDSL on the same day......................issued in the interest of investors."
"No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
© 2013 Globe Capital Market Limited. All rights reserved
Designed, Developed and Content powered by C-MOTS Infotech (ISO 9001:2008 Certified) Privacy Policy Disclaimer Terms and Conditions