LICI has invested over $500m in the economy
April 4, 2019 12:30 pm
Life Insurance Corporation of India has contributed to Fiji’s economic growth with an investment of over $500 million.
LICI General Manager Sanjay Dayal says they have invested mostly in the infrastructure of the economy.
Meanwhile, LICI has announced a bonus of more than $12million amongst its Fijian policyholders which is an increase of 8.24 percent compared to the previous years.
“Every year we declare bonuses so on that particular plan what is the rate. Rate is declared every year and it is based on surplus. So what we do is total profit analysis which we do accordingly and 95% of the surplus is distributed according to the plans you have.”
Dayal says LICI’s funds are mostly invested in government bonds, securities and as term deposits with commercial banks.