The South Central Zone of insurance behemoth LIC has set a new business premium target of Rs 5,100 crore for the current financial year, a senior official said today.
"The target for the current financial year in the new business premium is Rs 5,100 crore. Till August 31, Rs 1,500 crore premium has been done. With regard to policies our target is 36 lakh and so far 9.1 lakh policies have been covered," South Central Zone (Zonal Manager) T C Suseel Kumar told reporters.
During FY 2016-17, South Central Zone completed 27.88 lakh new business policies with a premium of Rs 5,092.07 crore, he said.
South Central Zone's total Premium Income during FY 2016-17 crossed Rs 46,500 crore and the total number of policies serviced by the Zone crossed 4.4 crore, he said.
Kumar further said in the last fiscal the Zone settled 24,68,204 maturity claims of a total of Rs 9,820.13 crore.
LIC South Central Zone covers Andhra Pradesh, Telangana and Karnataka.
He said the Zone has adopted 17 villages with a specific focus on providing drinking water facilities and solar lamps/LED lamps among other things within a cost of Rs 50,000 per village. Also, 303 schools were adopted by providing infrastructural support required for the schools within a cost of Rs 25,000 per school.
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