Panaji: On September 1, 2019 LIC entered 64th Year of its incorporation. LIC has grown from strength to strength be its customer base, Agency Network, Branch Office Network or New Business Premium. LIC is Serving 29 Crore Policies through 4851 Offices (Including 2048 Branches) 1,12,000 employees and 11,80,000 agents.
Starting with initial capital of Rs 5 Cr. In 1956, LIC today has assets of over Rs 31,11,000 crore with Life Fund of Rs 28,28,320 Cr. LIC’s Market Share in total first year premium is 66.24% and in NOP it is 74.71%.
We procured 1,42,191 Cr total first year premium from 2.10 Cr Policies in last financial year.
Western Zone comprises of states of Maharashtra, Gujarat, Goa and Union Territory Daman, Diu and Dadra and Nagar Haveli.
Western Zone is the largest Zone of the corporation with 20% Share in New Business Premium and with 33,61,000 Policies and Rs. 10271 Crore First Year Premium the Zone is Number One in Both.
Western Zone is servicing 5.87 crore policies with good support of 403 Branch offices with 21500 employees and 211000 agents.
Total Satellite offices and Mini Offices in Western Zone are 332
We have 30 products under Endowment , Term Assurance, Children plans , Pension, Micro Insurance, Health Insurance and Unit linked products etc. We have launched a Term Assurance plan “ Jeevan Amar” on Aug 5, 2019 and “ Tech Term” on Sept 1, 2019.