South Zone LIC posts 63 pc growth rate in current fiscal
The South Zone LIC of India has emerged as the leading zone with a collection of over Rs 6,200 crore First Premium Income (FPI) in the current financial year.
By PTI |
CHENNAI: The South Zone LIC of India has emerged as the leading zone with a collection of over Rs 6,200 crore First Premium Income (FPI) in the current financial year, registering a growth rate of around 63 per cent, zonal manager B Manivannan said on Saturday.
The zone had sold 40,70,392 new policies till January 31, 2008, against a target of 53,10,000 policies, a growth rate of around 56 per cent over the previous year, he told reporters here.
The South zone, the only one to achieve the target on all counts last year, was way ahead of other zones in growth and achievement rates this year, he added.
Manivannan said the Ernakulam division had collected over Rs 1,000 crore of FPI against a target of Rs 950 crore, a first time ever achievement in the history of LIC.
Ernakulam and Kozhikode had emerged as top divisions in the country in achieving their FPI targets, while Changanacherry branch was first in achieving all its new business targets.
He said the zone had settled 7,55,600 maturity claims amounting to Rs 1,559.21 crore up to December 2007 and 38,786 death claims to the tune of Rs 260 crore.
He also announced the launch of LIC's first long-term unit-linked health insurance plan 'LIC's Health Plus,' with effect from February four.
The plan provided for hospitalisation cash benefit and major surgical benefit, he added.
The zone had sold 40,70,392 new policies till January 31, 2008, against a target of 53,10,000 policies, a growth rate of around 56 per cent over the previous year, he told reporters here.
The South zone, the only one to achieve the target on all counts last year, was way ahead of other zones in growth and achievement rates this year, he added.
Manivannan said the Ernakulam division had collected over Rs 1,000 crore of FPI against a target of Rs 950 crore, a first time ever achievement in the history of LIC.
Ernakulam and Kozhikode had emerged as top divisions in the country in achieving their FPI targets, while Changanacherry branch was first in achieving all its new business targets.
He said the zone had settled 7,55,600 maturity claims amounting to Rs 1,559.21 crore up to December 2007 and 38,786 death claims to the tune of Rs 260 crore.
He also announced the launch of LIC's first long-term unit-linked health insurance plan 'LIC's Health Plus,' with effect from February four.
The plan provided for hospitalisation cash benefit and major surgical benefit, he added.
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