Business Standard
State-owned Life Insurance Corporation of India (LIC) is engaging with key financial regulators, including the Reserve Bank and Sebi, to expand the availability of long-term investment instruments as inflows into its annuity products keep on rising, CEO and MD R Doraiswamy said. An Annuity product converts an accumulated retirement corpus into a guaranteed, lifelong stream of income. When one invests a lump sum, LIC pays a regular pension for life, ensuring the savings aren't outlived. "When the annuity markets are becoming more favoured by the policyholders, and more investments flow into annuities, we need to necessarily have long-term investments matching that kind of long-term liabilities. So we have been in touch with the (insurance) regulator as well as the regulators like SEBI, as well as RBI and the requirements of LIC, particularly are being duly communicated to them," he told PTI in an interview. He further said the sector regulator, Insurance Regulatory and Development ..
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