LIC Ernakulam Division Sets Rs 955 Cr Premium Income Target

Ernakulam Division of LIC has set itself a target of Rs 955 crore first premium income through the sale of 6.2 lakh policies in 2007-08. According to the source, the Ernakulam Division has crossed 5 lakh policies for the first time in 2006-07 and was the only division to do so in the south zone States of Tamil Nadu, Kerala and Pondicherry. The division showed 94.1 per cent growth in single premium at Rs 510.35 crore. Likewise, non-single premium grew 58.99 per cent at Rs 182.78 crore during the period.The major contribution (75.32 per cent) came from unit linked plans. The division sold over one lakh ULIP policies with premium collection of Rs 253.98 crore. The Ottappalam branch with 10,717 policies stood first for the number of policies and the Thrissur branch with Rs 20.31 crore stood first in first premium income.