LIC Reduces Equity Investment Target To INR 50,000 Crores for FY17
Monday, January 9, 2017, 11:11 AM
The country’s largest Domestic Institutional Investor, Life Insurance Corporation of India, has reduced its equity investment target for the year ending 31st March 2017 to INR 50,000 Crores from INR 60,000 Crores. This is because of unfavourable market conditions. According to the people familiar with LIC’s plans, the insurer will invest the surplus money earned from premiums in fixed income papers instead of stocks.