| Speaking to reporters here, S Behara, senior divisional manager of the division, said that during the first four months of the current financial year, the division's net profit increased by 19.26 per cent to Rs 76 crore from Rs 63 crore during the corresponding period in the last fiscal. |
| During the current financial year till August 14, the division had a sum assured income of Rs 419.75 crore including the first premium income of Rs 19.46 crore. The total number of policies in the division was 71,352. |
| The division achieved a growth of 24.18 per cent in the number of policies, 31.6 per cent growth in sum assured and 56.48 per cent rise in the first premium income over the corresponding period in 2003-04. |
| For the current fiscal, the division is targeting 3.37 lakh policies, Rs 2,142 crore of sum assured and first premium income of Rs 92 crore, Behara said. |
| "In the current fiscal, we expect a good business through our capital market-linked policy 'Bima Nivas'. During the last fiscal under this plan, the division sold 461 policies and collected Rs 75 lakh first premium. During the first four months of the current fiscal, we have collected Rs 3.15 crore first premium income with 2,093 policies and we are planning to collect at least Rs 40 crore first premium income under the plan," he said. |
| "Under the pension and group schemes, the division's performance in the current financial year is very encouraging. Recently, the corporation has finalised a mega scheme covering 21,875 cane farmers belonging to Chodavaram Co-operative Sugars Limited for a risk coverage of Rs 10,000 to each member. This is the biggest group covered under conventional group insurance business in the Visakhapatnam division and similar schemes for the Visakhapatnam Steel Plant and Visakhapatnam Port employees would be launched soon," Behara said. |
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