The life insurance industry is said to have crossed assets under management (AUMs) of Rs 25 lakh crore in FY16.
Data from the Life Insurance Council show the industry had AUMs of Rs 24.25 lakh crore as of December 31, 2015.
V Manickam, secretary general, Life Insurance Council, the industry body for life insurers, said going by trends, the industry would have crossed an AUM of Rs 25 lakh crore in the last financial year.
Of the Rs 24.25 lakh crore as of December 31, 21 per cent or Rs 4.9 lakh crore went into equity investments, while the rest went into debt investments. In debt, Rs 13.75 lakh crore went into government securities, whereas Rs 4.5 lakh crore went into corporate debt, loans and others, including infrastructure debt.
A growth of Rs 60,000 crore in AUMs was seen in the June quarter, Rs 50,000 crore in the September quarter and Rs 60,000 crore in the December quarter. Manickam explained the last quarter was the busiest as it was the tax-saving season and the AUM could have seen a growth of Rs 70,000-80,000 crore in that quarter.
