Thursday, May 12, 2005
Thursday, May 12, 2005 |
| Other States | ||||
|
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
Advts: Classifieds | Employment | Obituary | Other States
-
Rajasthan
Special Correspondent
JAIPUR: The newly introduced unit linked plans of the Life Insurance Corporation (LIC) of India have fetched it rich dividends besides providing immense confidence to its management in this challenging times of severe competition from the private global players. The LIC attributes its phenomenal success in the new business first premium income of Rs.6,282.35 crores to the unit linked plans, Bima Plus and Future Plus. "With the new players around we tried to modify our strategy a little bit and the results are there,'' K. Sridhar, managing director of LIC of India said. "During the year the two plans together brought us a first premium of Rs.4,090 crores while Future Plus, the unit linked pension plan alone fetched premiums to the tune of Rs.2,107.75 crores in just 27 days,'' he revealed. During the year LIC sold 7.19 lakh Bima Plus policies and more than 10 lakh policies of Future Plus. Talking to newspersons here on Tuesday, Mr.Sridhar said despite the presence of 13 foreign insurance companies, LIC continued to be the market leader. "We have 92 per cent of the total insurance policies in the country and we are considered among the best in the world in the realisation of maturity claims,'' he said. The Corporation's current (2004-05) first premium income is a Rs.15,840.67 crores against a first premium of Rs.12,179 crores during 2003-04. Of this, Rs.12,175 crores came from individual business (growth rate 42.1 per cent) through the sale of more than 2.39 crore policies during 2004-05. An amount of Rs.3,666.56 crores came from the Pension and group business. The segment of Individual Pension Plans posted an astronomical growth rate of 462 per cent in the first premium income and 337 per cent in policies. The single premium plans and Bhima Nivesh also did well posting a growth rate of 132 percent. Mr.Sridhar promised more variety for the customer in future. The Corporation was targeting at a growth of 50 per cent in the income premiums and a sale of 3.33 crore policies for the year 200-06, he informed.
Printer friendly
page
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
|
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu
|
