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Life Insurance Corporation, the country's largest life insurer is expecting to meet 20 per cent of its annual budgeted new business premium collection of Rs 35,000 crore in the third quarter of the current fiscal, said a top company official.
SK Roy, Chairman of LIC, said on the sidelines of the FICCI insurance summit that while the new business premium collection for the state-owned insurer has seen a very good growth in November, the company may not be able to surpass its previous year's record premium collection in the third quarter.
Roy said that at present the insurer has already invested Rs 45,000 crore in equity markets in the current fiscal and is ready to buy more if the government comes out with its divestment programme.
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