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News From Press LIC profit booking rises to record Rs25,000 crore in FY18

LIC profit booking rises to record Rs25,000 crore in FY18

Source: Mint Apr 17, 2018

State-run insurer Life Insurance Corporation of India (LIC) booked record equity trading profits of Rs25,000 crore in 2017-18, up from Rs19,000 crore a year ago, said two people aware of the matter.

The state-owned insurer is finalizing its annual accounts and these will be published in May.

LIC held equity assets (including shares and mutual funds) worth Rs5 trillion at the end of December, and the trading profits approximate 5% of assets under management. In 2015-16, LIC had booked Rs11,000 crore profit from equities trading.

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