Money & Banking

20% rise in LIC Bangalore’s business

| Updated on: Jan 01, 2014

First-premium collection of Life Insurance Corporation’s Bangalore division has gone up by 20 per cent at Rs 260 crore as on December 15, 2013, as compared with Rs 217 crore collected last year. About 2.35 lakh policies were sold up to December 15 against 2.14 lakh last year.

In the April-December period, LIC Bangalore division settled 82,673 maturity claims paying Rs 320 crore and 3,892 death claims, paying Rs 43 crore. On alternative channels, P. Kumaresan, Senior Divisional Manager, LIC Bangalore, said the bancassurance channel has brought in Rs 22 crore of premium with 3,108 policies as against Rs 20 crore from 2,879 policies during last financial year.

LIC’s Bangalore division recruited 2,133 agents during this financial year.

Published on January 01, 2014

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