SUNBIZ

15% Growth For LICI

Life Insurance Company of India (LICI) says its insurance policy sales have grown by over 15 per cent so far this year. General manager, Vimlesh Dhar said this is attributed
01 Jun 2015 10:28
15% Growth For LICI

Life Insurance Company of India (LICI) says its insurance policy sales have grown by over 15 per cent so far this year.

General manager, Vimlesh Dhar said this is attributed to the now surging demand in the market and good rates. He said this during the company’s client cocktail gathering in Nadi the past week.

Last year its policy sales were more than 8000.

“LICI has been the market leader in life insurance here for quite some years now in terms of the number of sales that we are having,” Mr Dhar said.

“And we are able to notch up a good market share in the premium as well which was over 80 per cent last year and we have the edge in terms of the bonus rates that we offer to our customers.

“This is because our bonus rates are very good. They are in fact giving a return of over three per cent on an average to our customers.

“LICI is one of the organisations that has a very strong connection to Fiji.

“And the main point of our agency is that 95 per cent of our distributable surplus that we earn every year we distribute to the policy holders.”

 

Ownership

The remainder is remitted to the Government of India. LICI is an Indian state-owned insurance group and investment company headquartered in Mumbai.

“LICI is a company that has been consistently maintaining its bonus rates for so many years and despite a fall in interest rates in the economy, we have been able to give a good return to our customers over the last so many years.”

It will be issuing $8.8 million bonus payout to policyholders.

Feedback: waisean@fijisun.com.fj

 


Get updates from the Fiji Sun, handpicked and delivered to your inbox.


By entering your email address you're giving us permission to send you news and offers. You can opt-out at any time.




Five Squares Mad March


Fijisun E-edition
Total
Subscribe-to-Newspaper
Fiji Sun Instagram
Subscribe-to-Newspaper