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Life Insurance Corporation of India crosses One Crore Individual Policies mark
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India's largest life insurer, Life Insurance Corporation of India, has crossed of One crore mark Individual Policies for the current financial year, with First Premium Income of Rs 15,917 crore in the fortnight ended August 14, 2010
In the previous year, LIC had crossed this landmark on August 31, 2009, according to a press release here today.
The Corporation's performance in the current financial year has been record breaking so far and as on 31.7.2010 it has increased its market share in first year premium to 71.33 per cent as against 64.86 per cent as on March 31.
LIC's Western Zone was the main contributor with more than 15.86 lakh policies, followed by South Central Zone 15.46 lakh policies, Northern Zone 15.04 lakh policies, North Central Zone 13.54 lakh policies, South Zone 12.78 lakh policies and Eastern Zone 12.29 lakh policies. East Central Zone 9.52 lakh policies and Central Zone 5.98 lakh policies.
In 2009-10, LIC had completed a record 3.88 crore individual policies, with a market share of 73.02 per cent.
Besides having the largest customer base of about 27 crore policies, LIC has an enviable conservation ratio of more than 90 per cent. |
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