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MADURAI: The Madurai Division of the Life Insurance Corporation of India has achieved a record performance in respect of settlement of claims during 2002-03, 95 per cent of outstanding claims with post-dated cheques, according to Mr P. Annadurai, Senior Divisional Manager, here.

In a meet with the press, after the launch of the new policy `Varishtha Pension Bima Yojana', here, Mr Annadurai said credible performance was registered in other areas also.

Nearly 2.7 lakhs new policies have been sold with Rs 1,713 crore as sum assured. The collection of first premium has been Rs 59 crore, a milestone for the division, he said.

In respect of settlement of death claims, the record is 99.48 per cent. This has secured for the division, 46th rank at all-India level and 5th rank at the zonal level, he added.

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