He further said, "The market now has recovered by 32 per cent from the March lows. LIC has booked a profit of Rs 13,000 crore from equity operation and is still a net investor of Rs 28,000 crore in the market."
The PSU insurance behemoth witnessed a surge in online premium collections, Kumar said.
However, the premium flows so far were from big-ticket policies, while the collection from small-ticket plans suffered, he said.
The insolvency ratio of the insurer till March was 155 per cent, which was at a "comfortable" level for the company, he said.
Speaking about the mega IPO, Kumar said, "The government's intention is to complete it by March. I can only tell that we will try to abide by the instructions."
In the 2020-21 budget, Finance Minister Nirmala Sitharaman had announced the government's plan to sell a part of its holding in LICI by way of Initial Public Offer.
The IPO of LICI would contribute a huge chunk to the government's budgeted disinvestment kitty of Rs 2.10 lakh crore this fiscal.