Life Insurance Corp. of India (LIC), the country’s largest buyer of stocks, may cut its equity investment target to about ₹30,000 crore for the current year, the lowest in a decade, as new premium growth declined amid coronavirus-related disruptions, two people directly aware of the insurer’s internal discussions said.
LIC invested around ₹47,000 crore in stocks in the year to March, a 21% decline from the previous fiscal year, according to official data. The state-owned insurer has been traditionally called upon by the government to use its deep pockets to rescue privatization plans and even support the stock markets during major sell-offs.
source: hindustantimes
