Shimla LIC mops up Rs 700 crore premium in a year

Shimla, Mar 26 (UNI) Shimla division of the Life Corporation of India (LIC) has mopped up composite premium of Rs 700 crore in a year, the first in the north zone to achieve the feat, corporation's Senior Divisional Manager Kemmu said today.

Of the Rs 700 crore collected up to March 20, this year, the corporation's ''market plus'' scheme helped in collecting Rs 450 crore alone, he said in a release here.

Mr Kemmu said it was hoping to mop up Rs 850 crore during this financial year with the corporation collecting an average premium of Rs six crore during the last ten days.

Market Plus, which is a unit linked plan wherein the money is invested in the capital market, has 1.20 lakh policies in Shimla division.

LIC's Shimla division is the only division in the northern zone to have collected premium of Rs 700 crore in a year, he added.

UNI AS PS MMS1639