Financial Daily from THE HINDU group of publications
Tuesday, Sep 02, 2003
Financial Daily from THE HINDU group of publications Tuesday, Sep 02, 2003 |
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Money & Banking
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Life Insurance Ernakulam LIC division registers 26 pc growth Our Bureau
Mr M.R. Kumar, Senior Divisional Manager, LIC, addressing a press conference in Kochi on Monday. - K.K. Mustafah
Kochi , Sept. 1 THE Ernakulam division of the Life Insurance Corporation of India has registered a 26 per cent growth in the premium income among the 12 divisions in the southern zone. The division had achieved a first premium of Rs 24.71 crore in the current fiscal up to August 15 by selling 88,914 policies for a sum assured of Rs 720 crore. The target in this fiscal is to sell 3,99,000 policies for a sum assured of Rs 4,160 crore with a first premium of Rs 118 crore, Mr M.R. Kumar, Senior Divisional Manager, said. Speaking to reporters on Monday in connection with the `Insurance Week' celebrations and the launch of Jeevan Shree I, Mr Kumar said that the newly-introduced pension scheme Varishta Pension Bheema Yojana had also received a tremendous response from the customers in the division. Since its launch in July, the division has collected Rs 26 crore by selling 1,550 policies. This year, he said, the division is focussing on corporate agents for marketing policies. It had recently tied up with the Kerala State Financial Enterprise in this regard and also with stock broking firms such as Geojit, JRG Associates, Peninsular etc as they cater to higher segment of the society. With these tie-ups, the division is targeting 5 to 10 per cent increase from these alternate business channels, he added. As part of insurance week celebrations, Mr Kumar said that the division proposed to supply water tanks to five schools in remote rural areas where tap water facility is not available. The LIC branches identified for this purpose are Chittoor, Alathur, Vadakanchery, Kodungallur and Muvattupuzha. Also wheel chairs were being given to disabled poor children from those families who cannot afford to buy the same. LIC also plans to contribute towards environmental awareness by planting trees. Speaking on the occasion, Mr M.K. Balakrishnan, Marketing Manager, said that the corporation plans to improve the servicing of policies during this week and intended to spread awareness about information technology related facilities to the customers.
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