LIC crosses 1 crore policies mark this year

India's largest life insurer, Life Insurance Corporation of India (LIC), has crossed the mark of 1-crore individual policies for the current financial year, with first premium income of Rs 15,917-crore (Rs 159.17 billion) in the fortnight ended August 14, 2010.

In the previous year, LIC had crossed this landmark on August 31, 2009.

Among the largest contributors to this stupendous performance are LIC's western zone with more than 15.86-lakh (1.59 million) policies, south central zone with 15.46-lakh (1.55 million) policies, northern zone with 15.04 lakh (1.50 million) policies, north central zone with 13.54-lakh policies, south zone with 12.78-lakh (1.28 million) policies and eastern zone with 12.29-lakh policies, a press release issued here said.

East central zone with 9,52,000 policies and central zone with 5,98,000 policies also made valuable contributions, the release said.

During the previous financial year, LIC had completed a record 3.88-crore (38.8 million) individual policies, with a market share of 73.02 per cent.