LIC Vellore bags top position, mobilises Rs 157 crore

Puducherry, July 18 (UNI) Life Insurance Corporation (LIC), Vellore division has notched up the first position in the country in mobilising Rs 157 crore (first premium) during a short span of 108 days in the current fiscal, Senior Divisional Manager Vellore division M K Balakrishnan said today.

Addressing a press conference here this evening, Mr Balakrishnan said the division had sold 1,45,500 new policies, marking a growth of 166 per cent.

He said the two new policies-- 'money plus' and 'market plus'--, alone had procured Rs 150 crore from over 1.15 lakh investors. The division, which comprised Vellore, Villuppuram, Cuddalore and Tiruvannamalai districts of Tamil Nadu besides Puducherry, was aiming at big business volume.

Referring to the settlement of claim by the division, he said Rs 153 crore had been disbursed to around one lakh customers on maturity of the policies and Rs 36 crore had been disbursed under death claims during last year.

UNI