Visakhapatnam division of LIC of India ranked No. 1 in number of policies and first premium income as on August 15 in South Central Zone comprising Andhra Pradesh, Telangana and Karnataka.
It has sold as many as 2.70 lakh policies. The division has collected Rs.95.39 crore as on August 29 as first premium as against Rs.292 crore during entire financial year last year.
Out of 20 branches, as many as 16 have procured more than 10,000 policies each. Palasa Kasibugga branch, by selling 23,000 policies, has occupied the top position in the zone followed by Parvathipuram with 22,600 policies.
LIC Senior Divisional Manager K. Murlidar told reporters on Wednesday that they registered 50 per cent growth in first premium collection.
The division mobilised 85,000 policies as on today as against 68,000 during corresponding period last year. In the sale of major plans like New Jeevan Anand, New Endowment, Jeevan Rakshak and New Jeevan Akshay, the division occupied first position in the zone.
Mr. Murlidar said during the current fiscal, they had occupied 13 position among all the divisions in number of policies and 14 in first premium among 113 divisions at the all India level.
Commenting on pension and group schemes, he said during the current year, they had achieved had exceeded the targets. During 2016-17, the division would settle 1.73 lakh maturity claims with an amount of Rs.560 crore. Under special revival campaign, the division had so far revived 26,660 policies with a premium realisation of Rs.23.75 crore.
LIC Marketing Manager T.K. Pattanaik, Sales Manager Ranjan Adhikari, Chief Life Insurance Advisor Md. Azagar Ali and Pension & Group Insurance Manager G.B.V. Ramayya were present.
