LIC Mutual Fund is on the lookout for creative and media partners. Pitching for the business are the empanelled agencies of Life Insurance Corporation (LIC) of India – RK Swamy, Mudra Communication, DraftFCB+Ulka and JWT India. The media arms of these agencies would handle the media part of the business. The account size couldn’t be ascertained at time of filing the report.
The first round of presentations has already taken place and the results are awaited.
It may be recalled that in January 2010, Life Insurance Corporation (LIC) of India had empanelled RK Swamy, Mudra Communication, DraftFCB+Ulka and JWT India to handle its creative duties. The media arms of these agencies are handling the media part of the business.
LIC Mutual Fund is managed by LIC Mutual Fund Asset Management Company Ltd. The mutual fund was set up by Life Insurance Corporation of India on June 19, 1989 with a sum of Rs 2 crore and the AMC was established on April 20, 1994. Recently, Nomura Asset Management, a wholly owned subsidiary of Nomura Holdings, Inc has agreed to purchase a 35 per cent stake in LIC Mutual Fund Asset Management Company.
LIC of India empanels RK Swamy, Mudra, DraftFCB+Ulka, JWT