LIC pumps in Rs 2,317 cr in four PSU banks

Life Insurance Corporation (LIC) has pumped in Rs 2,137 crore in four public sector banks through the preference share route. Life insurance monolith LIC, according to separate filings in BSE, has pumped in Rs 1,037 crore in Bank of India, Rs 650 crore in Union Bank of India, Rs 302 crore in Indian Overseas Bank and Rs 148 crore in the United Bank of India.

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IndiaFirst Life Insurance garners over Rs. 1000 crore premium in FY 2011-12

IndiaFirst Life Insurance, a joint venture between two of India’s largest public sector banks – Bank of Baroda and Andhra Bank along with UK’s leading risk, wealth and investment company Legal & General, has managed to achieve substantial growth of over 40% y-o-y by garnering over Rs. 1,000 crore premium during FY 2011-12. Read more