State-run insurance giant LIC has lowered its holdings in as many as 27 of the 50 blue-chip firms forming the market benchmark index Nifty, while selling shares worth an estimated Rs 8,000 crore. Read more
Life Insurance Corporation of India (LIC) has invested up to Rs 8,000 crore in equities in the last six months. The public sector behemoth has an investment target of Rs 2.4 lakh crore for the present year, of which 10-15 per cent will be invested in equities.
Speaking to the media on the sidelines of a Ficci seminar on capital markets, DK Mehrotra, CMD, LIC said, â€œOur investment target is Rs 2,40,000 crore for FY13, of which 10-15 per cent will be in the equity market. We have so far made investments of around Rs 75,000 crore, of which Rs 7,000-8,000 crore is in equities.â€ Read more
Engineering major Larsen & Toubro (L&T) is likely to tie up with Zurich-headquartered Swiss Re, a global reinsurer, for a joint venture in health insurance.Read more