Life Insurance corporation (LIC) Visakhapatnam division wasobserving 61st insurance week celebrations and the first day of the insurance week tomorrow will be observed as LIC day to mark the formation of corporation on the day in 1956.

Addressing a media conference here today, Senior divisional Manager of the Visakhapatnamdivision P Ramesh Babu said LIC continued to be dominant insurance company having as much as29 crores of individual policies and another 11 crore in group segment in the country at the end of 31st March 2017.

He said LIC has invested Rs 24,72,389 crore so far for the benefit of the community at large.In the latest five year plan from 2012 to 2017 itself Rs 14,23,055 crore has been invested, he said. Mr Ramesh Babu said the Visakhapatnam division comprised 20 branches and another 11 satellite offices across the three districts of Visakhapatnam, Vizianagaram and Srikakulam and the division as procured Rs 115 crore of first premium so far as against a target of Rs 384 crore for this fiscal and the number of policies completed so far is 85,000 as against a target of 2,90,000 policies. He said the Visakhapatnam division stands first in volume of policies completed in the south central zone comprising of three states -- Andhra , Telangana and Karnataka. UNI BSR RSA 2113