Hyderabad, March 21
The South Central zone of Life Insurance Corporation of India has announced that it has emerged as the first zone to achieve the target on all five counts in the pension & group schemes (P&GS) portfolio for the year 2005-06. The five counts include schemes, lives, new business premium under conventional P&GS business, lives under social security schemes, and total premium, LIC said in a press release. According to the LIC Zonal Manager, Mr T. Chattopadhyay, the absolute volume of lives under P&GS portfolio has improved from 2.25 lakh in 2001-02 to 13.78 lakh in 2005-06. The new business premium increased to Rs 497 crore from Rs 45 crore during this period. The zone has procured 35.96 lakh policies in the conventional business by March 15, recording a growth of 22.14 per cent. The new business premium improved to Rs 1,647.55 crore, a growth of 46.67 per cent, the release said.