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LIC SCZ eyes Rs. 4850 cr biz in FY-15
The South Central Zone of Life Insurance Corporation of India (LIC) is eyeing Rs 4,850 crore in total business during the current fiscal year ending on March 31, 2015.
Hyderabad: The South Central Zone of Life Insurance Corporation of India (LIC) is eyeing Rs 4,850 crore in total business during the current fiscal year ending on March 31, 2015. The zone handles LIC’s operations in Andhra Pradesh, Telangana and Karnataka.
The life insurance major had collected Rs 3,060 crore till last month as compared with a total premium of Rs 3,800 crore in the same period last fiscal. However, the SCZ is hopeful of achieving the target.
“Normally, 30 to 40 per cent of the underwriting of the policies takes place during March every year.
Besides, our two new products will also help us in reaching the targeted business,” K Ganesh, Zonal Manager, SCZ, LIC, told media here on Wednesday, after launching two new products – Jeevan Sangam and Children’s Money Back Policy.
The SCZ is looking to do a total business of Rs 500 crore to Rs 600 crore on Jeevan Sangam policy which is based on the payment of a single premium in the entire policy tenure. It is eyeing much higher business on the new Children’s Money Back Policy.
