Government-run Life Insurance Corporation of India (LIC) registered a 50% growth in fresh premium income from group insurance business as on January 15, 2009 as against the previous year period. However, individual retail insurance premium income dipped by 2% during the period as compared to last year period. The corporation has sold around 10,672 policies and covered 1,48,42, 467 lives under the segment.
The major contributors in group insurance for LIC in this fiscal were Coal India, Damodar Valley Corporation, ITC, the Birla group, the Kolkata and Vizag ports, United Bank of India and the UCO Bank, and also IT companies such as Wipro, TCS and Infosys.
Among 69 divisions in the country, the Kolkata Metropolitan Division was the topper in terms of FPI earned followed by Mumbai and Delhi. The division collected a total of Rs 910 crore during the period under review.