Life Insurance Corporation of India has booked profit of about Rs 1,200 crore by exiting from some of its investments in shares including illiquid stocks in the current booming markets. “We were a major purchaser in the capital market when BSE Sensitive was around 2,900-3,000 and now we did what prudent investor would do - exit by making profit without disturbing the market sentiment,” LIC MD R.B. Bharadwaj said at a function to launch Jeevan Shree-I policy as a part of insurance week celebrations on Monday. LIC has not disturbed the investments in th efrontline stocks and used rising markets to exit from illiquid and less frequently traded shares, LIC sources said. Jeevan Shree-I policy launched AHMEDABAD: LIC announced revival of its Jeevan Shree-I policy on the occasion of its 47th anniversary. Senior LIC official Dipak Pangtey said that Jeevan Shree-I was an exclusive policy for those with exclusive lifestyles, offering life insurance cover for a longer term even after the premium paying term. He said the policy had good maturity benefits and death benefits while also providing cover in case of total and permanent disability arising due to accident within 180 days of the incident. (PTI) The market value of equity portfolio grew to Rs 31,000 crore, as on July 31, 2003 as against Rs 21,000 crore at the end of March 2003. The total exposure to corporates and public sector undertakings was about Rs 35,000 crore and this includes investments in corporate bonds and equity, Bharadwaj said.Mathur said LIC has sold 83,000 policies under its senior citizen pension scheme for Rs 1,490 crore till August 23, 2003.
