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Our Bureau

Visakhapatnam , Oct. 12

LIFE Insurance Corporation of India will be launching four new products by the year-end, said Mr T. Chattopadhyay, South-Central Zonal Manager, after inaugurating the new building of the LIC branch at Seethammadhara here on Monday.

The new building was constructed at a cost of Rs 2.67 crore, which included Rs 1.9 crore towards acquiring the site.

On the private players who had entered the market, he said they needed seven to eight years for a break-even. All of them were at present incurring losses though they were doing a reasonably good job. "In fact, competition has increased the efficiency of all insurance firms,'' he opined.

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