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LIC made ₹13,000 cr profit in equity till August this fiscal

Sep 17, 2020 11:38 IST

Life Insurance Corporation (LIC) of India, which is preparing for its IPO despite volatility in the stock market, has already made a profit of ₹13,000 crore from its equity portfolio till August this year, a top official said. The insurer has collected about ₹87,300 crore of renewable premium till August this year, registering a growth of 13.5% over the same period of the last fiscal. In the 2020-21 budget, Finance Minister Nirmala Sitharaman had announced the government's plan to sell a part of its holding in LIC by way of Initial Public Offer.

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