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Our Bureau

Kochi, Oct. 8 LIC’s Ernakulam Division has retained the No. 1 spot in new business among the 105 divisions in the country as on September 30. The division has garnered Rs 408.91 crore in single premium collections with a growth rate of 32.95 per cent.

Mr J. Anilkumar, Senior Divisional Manager, said that the Ernakulam division topped the 105 divisions in the country “in absolute volume and stood first in the growth rate.”

The division had sold 2,83,189 policies and occupied the second position in the country. In non-single premium, the division could achieve a revenue of Rs 172.92 crore, he added.

The division had set a target of 6,20,000 policies and Rs 955 crore of first premium income for the 2007-08 fiscal, he added.

It had achieved 60.94 per cent of its budget in single premium and 60.89 per cent of its budget in non-single premium category.

The division could sell 2,05,428 ULIP policies for a total premium collection of Rs 548.16 crore.

LIC’s Kunnamkulam branch stood first with 21,049 policies and Thrissur-I branch with Rs 43.73 crore stood first in total first premium income among the 24 branches of the division covering districts of Ernakulam, Thrissur, Palakkad and Ponnani taluk.

During the current year, the division settled 67,561 maturity claims and survival benefits worth Rs140.52 crore as on September 30 this year. Death claims were settled in 2,072 policies.

An amount of Rs2.43 crore has been collected through 2,293 policies by the bancassurance and alternate channel as on September 30.

The division has also conducted various social security programmes for the benefit of BPL groups as part of celebrating Social Security Month by LIC of India.

About 14 lakh Anganwadi workers are covered under the scheme without charging any premium this year.

Several programmes are also organised at various centres of the division for the distribution of scholarships and claim cheques under the Jana Sree Bima Yojana, a social security scheme.

More Stories on : Life Insurance | Kerala

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