LIC SCZ emerge first to achieve budget

Hyderabad, Mar 20 (UNI) South Central Zone of LIC of India has emerged as the first zone in the country to achieve the budget on all five counts during 2005-06.

The absolute volume of lives under pension&group schemes portfolio had increased from 2.25 lakh in 2001-02 to 13.78 lakh in 2005-06, a release from the LIC said here today.

In new business premium, the growth was from 45.09 crore in 2001-02 to 497 crore in 2005-06. Under Janashree Bima Yojana, a social security scheme, the zone had grown from a coverage of 1.42 lakh lives in 2002-03 to 4.49 lakh in 2005-06.

In the area of conventional business also, the zone was doing very well and as on March 15,2006, it had procured 35.96 lakh policies with a very healthy growth rate of 22.14 per cent. The new business premium for the zone was 1647.55 crore. At a growth rate of 46.67 per cent, the zone had crossed last year's composite First Premium Income on March 20 itself and was poised to achieve 120 per cent of this year's budget by the year end.

The LIC had sold 4,06,339 policies of Jeevan Anand Plan and 5,42,669 Bima Gold policies, the release added.

UNI SM ROY 2043