“We have exceeded current fiscal target of Rs 38,000 crore  by achieving 12-15 per cent growth in  the premium income in the individual segment. We will have a premium income of around Rs 42-43,000 in this segment by the end of the current fiscal, We have also almost added another Rs 5 trillion of assets to existing assets of Rs 25 trillion during the year,’’ said VK Sharma, chairman, LIC  to Asia Insurance Post.

“The fears of a global trade war played a major role in today’s fall across global markets. Locally, markets have been facing headwinds since the start of February, be it the imposition of long term capital gains or the much talked about banking fraud. This being a politically busy year in India, volatility can stay high for an extended period,” said Devang Mehta, Head – Equity Advisory, Centrum Wealth Management. 

CBI has  alleged that A Balasubramanian (former Deputy General Manager of UIIC’s investment department,) and K L Kunjilwar (ex-chief manager),made suspicious investments through the privately placed short term unsecured redeemable non-convertible debentures issued by DCHL in 2011 in violation of the regulations,instructions and procedures.

Three companies will be merged into a single insurance entity and subsequently listed.The merger is expected to lead to effective utilisation of infrastructure and improved solvency margin,Minister of State for Finance Shiv Pratap Shukla said .