Page 11 - Insurance Times February 2016

Bank of India allocates 2 LIC opening zonal office in Odisha for

crore shares to LIC customer benefit

State-run Bank of India has alloted The Joint Working Committee for De- "Though LIC, because of its brand eq-
2 crore shares to LIC valued at Rs velopment in LIC Association has de- uity, has tremendous potential to
264.12 crore. "The bank has allotted manded opening of the Life Insurance spread insurance and micro-insurance
2 crore equity shares to Life Insur- Corporation's (LIC's) zonal office (tier- products at the grassroots level in
ance Corporation of India (LIC) on II) in Bhubaneswar. Odisha, it does not have a zonal office
preferential basis at the price of Rs in the State. Ever since bifurcation of
132.06 per share," it said in a regu- A delegation led by
latory. committee chairman LIC's Zonal Office in
Lalit Das had made the Kolkata in 2006, the
Corporation Bank gains demand before Union State is being served by
Minister of State Fi- its Eastern Central
from allotment of shares nance Jayanta Sinha. zonal office headquar-
The delegation also tered in Patna,"
to LIC demanded opening of a LIC division of- Patnaik had stated in the letter.
fice in Balasore.
The shares of Corporation Bank Patnaik had further stated that since
gained as much as 4 per cent to Earlier in January 2014, Chief Minister there are no direct flights or conve-
touch Rs 44.50 as the bank an- Naveen Patnaik had written a letter to nient daily train services from
nounced issuance of 2.8 crore Union Finance Minister Arun Jaitley Bhubaneswar to Patna, policy holders
shares worth Rs 143 crore to the Life requesting him to consider establish- from Odisha particularly senior citizens,
Insurance Corporation of India on a ment of an LIC zonal office at women, the physically challenged and
preferential basis. The shares were Bhubaneswar at the earliest to meet those belonging to the BPL category
issued at price of Rs 50.78, which is the long cherished aspirations of LIC are facing a lot of difficulties in com-
a premium of nearly 20 per cent customers in Odisha. municating with Patna Zonal Office for
close of Rs 42.05. redressal of their grievances.

Insurance Quiz

Q1. How much dividend did National Insurance Company Ltd. paid to Government of India for the FY14-15?
Q2. Car makers are gearing up to repair and service about ________ cars impacted by the Chennai floods.
Q3. What is the name of the new crop insurance policy launched by the government?
Q4. All relevant information regarding the health insurance and hospitals will be available on portal

named___________.
Q5. LIC pays Rs ___________ dividend to government.
Q6. How many agents will be recruited by Reliance Life as a part of its distribution network?
Q7. Zurich based Swiss Re is targeting a _______ basis point return on equity in 2016.
The answers of the quiz are from this issue itself. Just go through our journal and you will find the answers. Send your answers
by Email to info@sashipublications.com and you can get a chance to win an attractive gift. The gift will be offered to the
person giving all the correct answers. If we receive more than one entry with all correct answers the name of winner will be
drawn from lottery. The last date of receipt of entry is 20th February, 2016.
So Hurry and Submit your entry at the earliest !!!!

The Insurance Times, February 2016 11

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