LICI exceeds targets in 2009
Life Insurance Corporation of India Fiji Operations has surpassed its targets in the financial year 2009 that just ended on 31st December. The premier Life Insurance company sold 7145 new policies and generated a new sales premium of F$10.118 million exceeding the annual target of F$8 million comfortably. The company has shown a 50% growth in net premium and a modest increase in number of sales. Total premium income also showed a good growth to reach over F$38 million as against F$32 million of the previous year. LICI plans for 2010 include increasing its market share from the present 57% to over 60% and working on a growth of 30% in new sales.