PSU insurers gain big from ITC as private players, MFs turn responsible

span.p-content div[id^=div-gpt] { line-height: 0px; font-size: 0px;} State-owned insurance firms, including behemoth Life Insurance Corporation (LIC), have made huge gains of thousands of crores of rupees with significant investments in cigarette maker ITC even as private insurers and mutual funds have turned 'responsible' by drastically cutting their exposure.

Insurance companies and mutual funds typically use the premium or funds collected from their customers to invest in various securities including stocks to generate returns, but globally many insurers and fund houses have been staying away from investing in sectors like tobacco.document.write(""); googletag.cmd.push(function() { googletag.defineOutOfPageSlot('/6516239/outofpage_1x1_desktop', 'div-gpt-ad-1490771277198-0').addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.pubads().enableSyncRendering(); googletag.enableServices(); });

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