Ernakulam (Kerala), Feb.1 : The Ernakulam Division of the public sector Life Insurance Corporation of India (LIC) has completed Rs. 1000 crores as on January 31, 2008. This is the first time that a division of the LIC iscrossing this mark as its first premium income.
The division is now hoping to achieve a target of 1500 crores rupees by March 31, 2008, said Anil Kumar, its senior divisional manager in Kochi.
Kumar told media persons here that the division continues to be ranked first among 105 LIC divisions in the country, and added that the entire income has been generated from over 4,42, 000 LIC policies.
The other branches that stood out in collecting the first premium income in the state were Irinalikudda with Rupees 77 crores, Kunumkullam with Rupees 73 crores and Thrissur with Rupees 70 crores.
The major share, about 90 percent, has come from the ULIP business under its Market Plan.
Kerala, which has got a major share In the LIC business due to it being a stronghold of NRI and NREs', has till date covered more than 28 lakh policies.
The state has three LIC revenue divisions with 24 branches, 11 sattelite offices and 1200 employees.