LIC to be picky with PSU scrips

Life Insurance Corporation of India (LIC), which invested in the recent offer for sale (OFS) of NMDC and Hindustan Copper shares, will invest in only good scrips that come up for disinvestment, according to its Chairman D K Mehrotra.

"We will look at a scrip (coming for disinvestment), only if it has a good potential," Mehrotra said, and pointed out that LIC had till October 2012 invested over Rs 16,000 crore in equity.  He was interacting with media persons on the sidelines of a conclave organised by ASEAN Institute of Insurance and Risk Management here on Saturday.

The conclave was organised for setting up an Insurance University. LIC pledged support to the initiative.

The University, to be set up at a cost of Rs 65 crore, will be dedicated to the study and research of insurance and insurance products. Other insurers like GIC Re, ECGC, New India Assurance, United India Assurance, Tata AIG General Insurance and Agriculture Insurance Company of India have pledged their support to the setting up of the university.

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