LIC unit plans expansion in Bahrain
Manama, September 5, 2013
LIC International, a unit of India-based insurer LIC, is planning to take on extra staff in the near future to boost its business and is looking to hire trained Bahrainis, its chief executive and managing director said.
"We are looking to gain up to 1,500 new customers a year and we will start recruiting in about two months," R Thamodharan was quoted as saying in the Gulf Daily News, our sister publication.
"We are looking to add around six new people to our existing staff to sign up more agents for our products. We have been working with the Bahrain Insurance Association in developing awareness of insurance and we believe there is scope for growth in this market," he added.
He said that the local insurance market was showing signs of growth and LIC International assets have now crossed the $1 billion mark.
LIC International is a subsidiary of Life Insurance Corporation of India (LIC), the largest insurance group and investment company which is wholly owned by the Indian government.
The parent company has assets of $250 billion.
Headquartered in Mumbai, the financial and commercial capital of India, the Life Insurance Corporation of India currently has eight zonal offices and 118 divisional offices located in different parts of India and around 3,500 servicing offices, including 2,048 branches. – TradeArabia News Service