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Our Bureau

Kochi , Dec. 1

The Ernakulam Division of the Life Insurance Corporation of India has continued to retain No 1 spot among the 12 southern divisions for the current fiscal with a sale of over 2 lakh policies and a first premium income of Rs 47.86 crore in the non-single category as on November 15.

With the sale of New Bima Gold, a unique money-back policy it attained the No 1 spot among the 100 divisions in the country. The division sold around 70,535 policies as on October 28, Mr J. Anil Kumar, Senior Divisional Manager, said at a press meet.

FIRST PREMIA

The total first premium collection in the single premium category for the current fiscal as on November was Rs 341.25 crore. The division was expected to achieve Rs 500 crore by the end of March 2007 with the sale of 5,64,000 targeted policies, he said.

Detailed planning and clinical execution carried out in the sale of policies had helped the division to attain the No 1 spot among the other southern divisions, Mr Kumar said.

He said the division has excelled in the sale of all products such as Future Plus C, Jeevan Pluz (ULIP products), Jeevan Tarang etc. Moreover, Rs 424.40 lakh was collected during the current year as on November 15.

The total income of the division as on October 31 was Rs 952.34 crore with a total premium collection of Rs 934.53 crore and the total surplus of Rs 539.79 crore.

Speaking on the occasion, Mr S. Krishnakumar, Marketing Manager, said that in claims settlement, the division has settled survival benefits and maturity claims worth Rs 158. 25 crore under 78,881 policies until October 31. The death claim settlement amounted to Rs 16.32 crore in 2068 policies up to October 31.

The division has become the first in the southern region and second in the country to cross the budget on all counts in the Pension and Group schemes portfolio. The new micro-insurance product Jeevan Madhur will be launched in the division (districts of Ernakulam, Thrissur and Palakkad) in December, he added.

More Stories on : Life Insurance | Kerala | Performance

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