NEW DELHI: The south zone of Life Insurance Corporation of India (LIC) has registered an impressive growth of nine per cent in new business premium income.
“The south zone collected first premium income of Rs 4,965 crore as against Rs 4,555 crore last year, while the group and pension scheme department recorded a good performance with Rs 7,740.8 crore in new business premium income covering 3,610,770 lives,” the firm said in a statement.
During the financial year 2017-2018, South zone has settled all the survival benefit claims and ranked number one in India.
The firm informed that it has paid 2,838,264 numbers of total maturity claims to the tune of Rs 13,649 crores and 66, 865 death claims to the tune of Rs 886 crores.
LIC South zone has a network of 13 divisional offices and 261 branches spread over Tamil Nadu, Kerala and Puduchery.