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The bank’s liquidity profile remains strong as evidenced by an advances to stable resources ratio of 76% and an eligible liquid asset ratio of 16%, both comfortably above regulatory thresholds
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LIC International launches new investment plan
The company enjoys a strong brand connection with the Indian diaspora as the products are designed according to the ethos of Indian financial habits.
LIC International, a JV company owned by Life Insurance Corporation of India with its headquarters in Bahrain and branches in the UAE (Dubai and Abu Dhabi), announces the launch of a new ULIP product for its UAE Market. Systematic Wealth Creation Plan was launched by D P Pattanaik, CEO of LIC International at a ceremony held in Dubai on April 19.
It is an equity-linked regular premium whole-life plan that provides investors with a platform to invest and participate in the performance of various market-linked diversified funds managed by various asset management companies based in Dubai.
LIC International is a niche brand, present in the GCC for more than three decades, well-known for its capital-guaranteed savings cum insurance plans. The company enjoys a strong brand connection with the Indian diaspora as the products are designed according to the ethos of Indian financial habits.
With this new launch, LIC International is expanding its presence into the equity-linked product segment to meet the emerging aspirations and investment needs of millennial investors, who along with life insurance coverage can maximise their wealth by investing in the diversified equity market through recourse to professional fund manager(s).
The tagline of the product is, ‘Invest in global markets with confidence and secure your financial future today’. This plan is a whole-life regular premium plan and suitable for wide age groups from 0 to 75 years.
The company’s objectives are to reach out to the young investor and offer a blend of flexibility, convenience and opportunity to optimise wealth through diversified global funds and a personalised approach to growth-oriented funds. The company intends to roll out more such innovative products during the year 2023 and help clients plan their complete financial needs with LIC International.
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