LIC Ernakulam Division ranked best in country

Kochi, July 6 (UNI) Ernakulam Division of Life Insurance Corporation of India was numero uno among 105 divisions in the country, taking the first position in terms of number of policies in both single premium and non-single premium.

Talking to newspersons here today, Senior Divisional Manager J Anilkumar said the division accounted for 1,34,215 policies, Rs 177.54 crore and Rs 82.94 crore as single premium and non-single premium respectively as on June 30, 2007.

He said the division had recorded a growth rate of 94.10 per cent in single premium with Rs 510.35 crore and in non-single premium with an achievement of Rs.182.78 crore and attained a growth rate of 58.99 per cent. The premium collected through Alternate Channels was Rs 657.59 lakh with 6,598 policies, he said.

As on March 2007, the division had recorded a total income of Rs 1999.46 crore with a premium collection of Rs 1903.93 crore and generated total surplus of Rs 882.7 crore, he said.

The major contribution of 75.32 per cent had came from Unit Linked Plans (Money Plus&Market Plus), he said and added the Division had sold 1,01,094 ULIP policies for a total premium collection of Rs 253.98 crore.

In the Pension&Group Schemes portfolio, the division was first in the south zone in New Business Premium with 22.15 crore and 6138 lives.

This year the division had settled 25,687 Maturity Claims and Survival Benefits worth Rs 40 crore as on June 30 this year. Death claims were settled in 889 policies.

The Division had also identified 11 more centres in Ernakulam, Thrissur and Palakkad districts to open Satellite Offices during the year. The existing Satellite Offices were at Kothamangalam and Kanjani apart from 24 full-fledged branches, he said.

UNI