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S. K. Roy in Calcutta on Saturday. Picture by Kishor Roy Chowdhury
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Calcutta, Sept. 1: Life Insurance Corporation of India (LIC) is looking at a 39.25 per cent growth in its first premium income from the eastern zone over last year. While income from the segment stood at about Rs 4,000 crore last fiscal, it is expected to reach Rs 5,570 crore this year, to be brought in through the targeted sale of 56.50 lakh policies. Last year, around 48 lakh policies were sold.
“In the current year, the Ulip portfolio is not large. It is not growing. The conventional premium is growing by huge margins. This year, it can be safely assumed that the total premium income will be in excess of Rs 10,000 crore,” said S. K. Roy, zonal manager (east), LIC.
LIC today celebrated its 56th anniversary and launched a microfinance product, Jeevan Deep, the third in the portfolio. Last year, the company had sold 8 lakh microfinance policies in the east.
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