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Eastern zone tops all India LIC business in first quarter
Kolkata, July 14: Eastern zone has contributed the maximum to the Life Insurance Corporation of India`s (LIC) total business during the first quarter of the current financial year, senior officials today said.
Kolkata, July 14: Eastern zone has contributed the maximum to the Life Insurance Corporation of India's (LIC) total business during the first quarter of the current
financial year, senior officials today said.
The zone had set an ambitious target of selling 5,000
Varishtha Pension Bima Yojana on the first day of the launch
itself.
Talking to reporters on the occasion of launch of Varishtha Pension Bima Yojana, regional manager M Kumar said the zone had sold a total of 7,48,871 policies during April-June quarter accounting for 25.11 per cent of all India sale of 29,81,659 policies from seven zones taken together. In terms of sum assured, the zone accounted for 21.77 per cent of the total at Rs 4,393 crore as against all India figure of Rs 20,713 crore, he said.
The zone, with first premium income (FPI) of Rs 149.40 crore during the quarter, accounted for 22.29 per cent of the LIC's all India FPI of Rs 670.39 crore, Kumar said.
However, all India figure was higher in terms of growth registered in sale of number of policies. While zone's growth in number of policies during the quarter was 6.20 per cent from 702159 policies in the corresponding quarter of previous fiscal, the all India growth was 11.32 per cent from 2678254 policies in April-June 2002 to 2981659 this fiscal. In terms of sum assured and FPI too, all India growth rate was higher at 36.94 per cent and 27.21 per cent respectively as against eastern zone's growth in SA of 27.59 per cent and FPI of 25.44 per cent.
Bureau Report
Talking to reporters on the occasion of launch of Varishtha Pension Bima Yojana, regional manager M Kumar said the zone had sold a total of 7,48,871 policies during April-June quarter accounting for 25.11 per cent of all India sale of 29,81,659 policies from seven zones taken together. In terms of sum assured, the zone accounted for 21.77 per cent of the total at Rs 4,393 crore as against all India figure of Rs 20,713 crore, he said.
The zone, with first premium income (FPI) of Rs 149.40 crore during the quarter, accounted for 22.29 per cent of the LIC's all India FPI of Rs 670.39 crore, Kumar said.
However, all India figure was higher in terms of growth registered in sale of number of policies. While zone's growth in number of policies during the quarter was 6.20 per cent from 702159 policies in the corresponding quarter of previous fiscal, the all India growth was 11.32 per cent from 2678254 policies in April-June 2002 to 2981659 this fiscal. In terms of sum assured and FPI too, all India growth rate was higher at 36.94 per cent and 27.21 per cent respectively as against eastern zone's growth in SA of 27.59 per cent and FPI of 25.44 per cent.
Bureau Report