Month: August 2012

New Delhi: The country’s largest insurer LIC has purchased shares worth over USD 2 billion (about Rs 11,000 crore) in Indian companies – mostly in sectors like utilities, energy and software – during the April-June period, according to a report by BofA-Merrill Lynch.

At the same time, Life Insurance Company (LIC), also among the biggest investors in the stock market, sold shares in media/hotels and consumer good firms worth USD 115 million (about Rs 638 crore).

It purchased shares of state-run NTPC; software firms – Infosys and Tata Consultancy services; energy giants – Reliance Industries and Cairn India. LIC offloaded shares of auto maker Tata Motors and private sector lender HDFC Bank.

As per BofA-Merrill Lynch Global Research report, LIC’s major investment during the quarter included NTPC (USD 531 million), Infosys (USD 356 million), RIL (USD 269 million), Cairn India (USD 221 million) and Bajaj Auto (USD 199 million).

On the other hand, LIC lowered its exposure to companies like Tata Motors (selling of shares with an estimated USD 58 million), Syndicate Bank (USD 49 million), Hindustan Unilever (USD 45 million), Allahabad Bank (USD 32 million) and HDFC Bank (USD 23 million).

The report indicates that overall LIC has emerged as net buyer during the April-June quarter and most of the investment was in private sector firms.

In terms of sectors, LIC investments in the utilities portfolio stood at USD 523 million, followed by software USD 490 million, energy (USD 487 million), auto (USD 241 million), industrial (USD 102 million), telecom (USD 77 million), pharma (USD 46 million), financials (USD 45 million), metals and mining (USD 15 million).

In contrast, the insurance giant offloaded shares valued at USD 93 million in the consumer goods firm, USD 13 million in media/hotel category and USD 9 million in cement sector.

Financial sector accounted for 25 percent of LIC’s total equity portfolio in the country followed by energy 15 percent, consumer goods 12 percent and industrial space 10 percent.

source: zeenews

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Enquiries through SMS for LIC POLICIES
Posted by:V.K. sharma, August - 24 - 2012

In LIC, there are facilities to get enquiries through SMS for ordinary as well as annuity policies.

For ordinary policies to know your premium position / Revival quotation / Bonus Accrual / Loan available / Nomination Status send SMS to 56677 by typing

“asklic<PolicyNumber><premium/loan/bonus/revival/nom>”

E.g. To know loan under your policy no 123456789,

type¬† “asklic<PolicyNumber><loan>”¬† and sms to 56677

 

 ENQUIRIES THROUGH SMS FOR LIC POLICIES

ENQUIRIES THROUGH SMS FOR LIC POLICIES

 

For annuity policies to equire about Status, Existence Certificate due, last Annuity release date, Annuity Payment mode, Annuity Amount, Cheque Return information send SMS to 56677 by typing

“LICPension<PolicyNumber><STAT/ECDUE/ANNPD/PDTHRU/AMOUNT/CHQRET>”

E.g. To know the amount under your annuity policy no. 987654321,

type “LICPension<987654321><AMOUNT>” abd sms to 56677

 

 ENQUIRIES THROUGH SMS FOR LIC POLICIES

ENQUIRIES THROUGH SMS FOR LIC POLICIES

 

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EDMS in LIC OF INDIA?
Posted by:V.K. sharma, August - 15 - 2012

LIC is the biggest life Insurance Company in India. Very few people know that LIC is the 2nd biggest PC user company in India, but how it is helpful for its policyholders. Policy holders used to worry about if they have taken policy from places far from their native places, how they will get services like mode change, reviving their lapse policies, taking loan on them, surrendering & death claim payments from other branches, etc?

Now there is good news for them or for all policy holders of LIC OF INDIA. Few year ago may be in 2007, EDMS (Enterprise Data Management System) started a project in LIC OF INDIA towards making LIC paperless.In this project LIC’s policies are to be scanned and uploaded in the form of pictures, which are to be accessible in all branches of LIC OF INDIA through intranet. But the question is How it is related to providing services like mode change, reviving their lapse policies, taking loan on them, surrendering & death claim payments from other branches, etc.

Almost all the policies are scanned and new policies issued are also scanned with in 2 months time from the date of their issue. In this process of scanning each and every thing proposal form, documents given and all reports are scanned.

In past the documents were not available in any branch regarding a particular policy so servicing was not possible.

Now all the above mentioned services will be possible in any branch of LIC once this project will be completed (May be in a year for old policies or may be completed). But as stated above that many policies are already scanned so if the image of your policy is available in any other branch of LIC through intranet then any kind of service is possible in any branch of LIC.

So for new policy holders, there is no point of concern regarding above mentioned services as the documents related to their fresh policies will definitely be scanned and all services will be possible in any branch of LIC.

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