Annual convention of LIC agents
Excelsior Correspondent
JAMMU, Dec 29: All India president of Life Insurance Agents Federation, Ranvir Sharma today said that LIC of India having competition with 23 other companies in the insurance sector, still tops the tally with 74 % market share.
Addressing 33rd annual convention of LIC agents of Srinagar Division at 17 Miles in Samba today, the All India president of the Federation said that LIC has been contributing a lot in the progress and prosperity of the country. He said Govt of India introduced privatization in insurance industry in 2000 and IRDAI came into existence. Now, there are 23 small and bigger private companies having foreign capital investment. But LIC still enjoys the trust of the Indians. The LIC agents procure 66 % and 74 % market share of business both in premium and policies.
He further said that LIC has 31.1 lakh crores rupees as its assets and its total life fund comes to Rs 28.8 lakh crores. The total premium income for the years 2018-19 remained Rs 3.37 lakh crores. Its investment in the Government infra/ social sector comes to nearly 21.4 lakh crores. It gave Rs 1500 crores to the Indian Railways previously for infrastructure building. He said agents are the backbone of the company but they are being ignored in many ways. He demanded hike in the commission of agents who are earning 95 % business for the company.
Member Parliament, Jugal Kishore, who was the chief guest lauded the contribution of the company in social and government sector and said that LIC still wins the trust of the people. He said the people in India prefer investing their money in LIC as compared to other private insurance players. He lauded the efforts of the agents and said that they are the real people carrying the company to great heights through their hard work. He congratulated the agents fraternity on this occasion and assured to project their issues.
Mayor JMC, Chander Mohan Gupta who was guest of honour also spoke on the occasion.
Senior Divisional Manager, J&K, Satpaul also spoke on the occasion and gave some figures with regard to the achievements and business of LIC in the Division.
Prominent among others present on the occasion included- Zonal president NCZ/LIAFI Onkar Singh Verma, Secretary North Zone Jagdish Kumar, Marketing Manager Sgr Div RK Verma, Manager Sales DO Cell, Sanjay Bhat, Naresh Pal Manager CLIA DO Cell Jammu, Divisional president Narinder Sharma and Div Secy Bodh Raj. Senior vice president, G L Sharma proposed vote of thanks.
Follow our WhatsApp channel
