Rs 231 cr business target fixed for J&K: TS Bali

Excelsior Correspondent

Senior Divisional Manager LIC, TS Bali addressing press conference in Jammu.  —Excelsior/Rakesh
Senior Divisional Manager LIC, TS Bali addressing press conference in Jammu.
—Excelsior/Rakesh

JAMMU, Sept 1: The Life Insurance Corporation (LIC) of India has given a business target of Rs 213 crore to the Srinagar Division of the Corporation, covering entire J&K State while the Company is all set to achieve target of 40 % by the end of this month.
Disclosing this to the media persons at a press conference here today on the completion of 59 years by the LIC, the Senior Divisional Manager, Srinagar Division (J&K) of the Corporation, T S Bali said that Srinagar Division has completed more than 40,000 policies while generating more than Rs 60 crores of fresh premium during this financial year as on ending August in addition to Rs 107 crore premium in pension and group schemes.
Referring to the target given to the J&K by the Company, the SDM disclosed that for the year 2015-16, the Division has been given a target of Rs 213 crore. About 40 % target is expected to the achieved by the end of this month and it is hoped that the annual business target would be completed by the Division comfortably by the end of March 2016. Mr Bali claimed that due to massive rain and floods during September 2014 in Kashmir, the business of the Company was also affected and Srinagar Division could generate business to the tune of Rs 188 crore.
While complimenting the entire staff of the Company in J&K on the completion of glorious 59 years of public service in the country today by LIC, Mr Bali said that Corporation has played a significant role in spreading life insurance among the masses and mobilization of people’s money for their welfare. Even after the entry of several private players in last one decade, the LIC continues to be the front runner in the insurance sector with 77.8 % market share in the country.
With this faith and trust of people, the LIC has today over 30 crore policies in force, with life fund to the tune of Rs 18, 24,194.95 crore and has assets worth Rs 20 lakh crore. It is contributing in big way in raising economic structure of the country. Moreover, the company has the best death claim ratio in the industry, the SDM added.
Mr Bali disclosed that LIC is celebrating Insurance Week from September 1 to 7 and during the week special camps would be organised at various branches across J&K to educate customers and general public about products/ policies, health insurance and other benefits. Free medical camps will also be organised for the customers besides seminars, debates/ painting competitions for the students of various colleges and schools, as part of week long activity, the SDM maintained.
Marketing Manager, Ashok Thakur and Manager Sales, J L Sharma were also present during the conference.

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