LIC to invest more stocks in 2011-12

This year, the country’s largest institutional investor, Life Insurance Corporation (LIC), will invest more in stock markets than the Rs 40,000 crore last year. Also, LIC will go for higher overall investment than the Rs 2 lakh crore last year. “LIC’s investment in equities this year will be more than last year. Last year, it was Rs 40,000 crore and the total investment was Rs 2 lakh crore,” LIC Managing Director Thomas Mathew told reporters on the sidelines of a Ficci conference on health insurance. However, he did not specify the exact figures for investments, saying it will hinge on business. “Hopefully, business will be good this year.”