Puducherry: Vellore Division of Life Insurance Corporation of India (LIC) has mobilised Rs.157 crore as first premium payment within 108 days since commencement of the current fiscal (2007-2008) by selling 1,45,500 new policies so far, according to the Senior Divisional Manager (Vellore) M.K. Balakrishnan. Addressing presspersons at the LIC Anna Salai branch office here on Wednesday, Mr. Balakrishnan said that this record performance registered a growth rate of 166 per cent and put the divison in the top slot in the country. LIC had also recorded a growth of 51 per cent in premium collection.
Mr. Balakrishnan said that the achievement of the division (comprising the Union Territory, Vellore, Villupuram, Cuddalore and Tiruvannamalai districts in Tamil Nadu) was due to overwhelming response to the Market Plus and Money Plus policies. Under these two plans alone, Rs 150 crore had been mobilised from more than 1.15 lakh investors. The Senior Divisional Manager said that a satellite office had been functioning in Chengam near Tiruvannamalai. Five more such satellite offices would be opened in Villianoor in Puducherry, Sankarapuram, Ambur, and Kattumannarkoil and in a village near Vellore.
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