Life insurance co(LIC) targets 37% growth in first premium income from East zone

Life Insurance Corporation of India (LIC) aims to achieve 37 per cent growth in its first premium income at Rs 5,500 crore in the eastern region in 2012-13.

The eastern zone earned a premium income of Rs 4,000 crore in 2011-12, according to S.K. Roy, Zonal Manager (East), LIC.

The company aims to sell a little over 56 lakh policies this year, as compared with around 48 lakh policies last year.

“We have earned Rs 1,022 crore as first premium income till August this year. The total premium income is likely to grow by 10 per cent to Rs 11,000 crore as against Rs 10,000 crore achieved last fiscal,” Roy told newspersons on the sidelines of LIC’s 56th year celebrations here on Saturday.

LIC launched a new micro finance product, Jeevan Deep. It already has two other products — Jeevan Madhur and Jeevan Mangal — in the segment.

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http://www.thehindubusinessline.com/industry-and-economy/banking/article3850826.ece