The Hindu Business Line : LIC Madurai divn gets 18th position in first premium

THE Madurai Division of the Life Insurance Corporation of India has secured the 18th position in the first premium insurance, among the 100 divisions in the country, up to July during the current year.

According to the Senior Divisional Manager, Mr R.J. Rajaraman, the division, operating in the six districts of South Tamil Nadu, mopped up Rs 177.99 crore by way of revenue, settled claims to the extent of Rs 43.48 crore, disbursed Rs 37 crore as loan to the policyholders and transferred to the central office for investment a sum of Rs 60.54 crore. The total premium income mopped up from the unit-linked Bima Plus scheme during the year has been Rs 13.57 crore as against Rs 9.94 crore for the entire financial year last year.

He further said that as per the ranking of Dun and Bradstreet of the 500 top Indian companies, LIC of India stood first in terms of net worth and net profit and second in terms of total income. It is the second largest computer user in the country and has been given the best IT User Award in the insurance sector by NASSCOM and indiatimes.com for the year 2002. It is also the largest financial institutional investor both in equity market and term loans in the country. It has contributed substantially towards the development of the infrastructure such as electricity, drinking water, housing etc, in which the total investments as on last March, stood at Rs 3, 47,763.96 crore. It is the number one insurer in the world in volume with 14.11 crore policies in 2003-04, he added.

More Stories on : Life Insurance | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
More exporters invoice in euros

Rupee in tight range against weak dollar

Bank stocks see across-the-board buying

LIC Madurai divn gets 18th position in first premium

LIC, GIC, UTI asked to withdraw funds from SDS — Govt move to cut down interest payouts

A weak-kneed response from RBI

YES Bank to woo corporate clients

HC orders TMB not to transfer shares

BoI to issue 2 lakh kisan credit cards

Bonds rally despite surge in inflation

SBT customer service panel