Despite market volatility, LIC made Rs 13k cr profit in equity till Aug: MD

Life Insurance Corporation of India (LICI), which is preparing for its Initial Public Offer (IPO) despite volatility in the stock market, has already made a profit of Rs 13,000 crore from its equity portfolio till August this year, a top official said on Wednesday.

The insurer has collected about Rs 87,300 crore of renewable premium till August this year, registering a growth of 13.5 per cent over the same period of the last fiscal, he said.

"The insurance industry had lost about Rs 45,000 crore in new and renewable premiums in the last fortnight of FY20 due to the Covid-19 pandemic. However, we