The life insurance corporation said the Rs 14,000 crore loss it posted was only notional and only about 1% of LIC’s total asset base, adding that the government’s examination of LIC was not due to the issue of a notional loss. The government examining LIC investments is a routine affair.
Every year all of LIC plans are valued. The valuation of schemes should be looked at as a whole and not individually, it said. There would always be some schemes in surplus and some in deficit. LIC added.
It promised that policyholders would get guaranteed returns and would not to suffer any losses
The insurance major plans to bridge the notional loss of Rs 14,000 crore from the surplus of other plans.
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