LIC sets targets

Tuesday 22, November, 2005 Bancassurance seems to be the best used channel to sell insurance. The state insurer is expecting the sales of its products through banks to reach around Rs 800 crore by March 2006. It has managed to sell insurance products worth Rs 100 crore in the current fiscal. It has also signed MoU with 34 banks in the country to increase its sales. The launch of ?Bima Gold? in August enabled Life Insurance Corporation (LIC) to put a hold to the falling market share at 76%. It has shown a growth of 17% by selling 78.67 lakh policies during April- August this year. The First premium collections also registered a 63% growth.

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