MUMBAI: India’s largest life insurer and domestic institutional investor (DII) Life Insurance Corporation of India (LIC) may revise its equity investment target downwards by more than Rs10,000 crore for the current year due to stalling new premium growth amid covid related disruptions, two people directly aware of the life insurer's internal discussions told Mint requesting anonymity.
LIC invested around Rs47,000 crore in equities in FY20, down 21% from the amount it invested in the same period last fiscal year, according to official data.
The state-owned insurer had invested Rs.59,115.67 crore in the April-January period of FY19. LIC is one of the world’s largest insurers and has major investments in more than 100 privately held listed