LIC opens satellite branch at Hassan

As part of its golden jubilee celebrations, the Life Insurance Corporation of India (LIC), Mysore division, on Thursday announced the opening of a satellite 'Sampark' office at Hassan, the first such office in the division.

One of the 29 satellite sampark offices, it offers customers interface services like new business processing, premium collection, information on policies, among others.

The branch is proposed to be opened in September, the first week of which will be the golden jubilee week. With over a lakh policies, Hassan is one of the biggest branches and hence the satellite office at Hassan.

Briefing reporters on the division's achievements this fiscal, senior divisional manager Jyotikumar Sen said it sold 65,014 policies as on August 15, with an income of Rs 69.22 crore.

Formed 22 years ago in 1988, the Mysore division was able to mop up a premium of Rs 9.43 crore during the last two months through the recently-launched unit-linked policy "� Market Plus. The P&GS unit has achieved a premium budget of Rs 3 crore this fiscal.

It has settled 17,972 claims up to July 31, amounting to Rs 36.49 crore and the outstanding claims ratio of the division stands at 0.83 per cent. Thirteen of the 22 branches in the division have achieved a 100 per cent claim payment.