LIC rustles up money for its foreign jaunts

Monday 19, September, 2005 The government has provided LIC the fillip it requires for its overseas ambitions. The Government has agreed to part with 50% of the dividend income it receives from LIC to fund the international expansion plans of LIC. With the 270 crore corpus thus received, LIC is in evaluation of the opportunities in Australia, New Zealand & Egypt. It plans to get into joint ventures with local partners which would help it to understand local conditions & regulations better.

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