Bahrain-based insurance firm LIC (International), a subsidiary of LIC of India, plans to launch two new conventional plans, which have already been filed with the Central Bank of Bahrain.

The company's chief executive and managing director Rajesh Kandwal said it is expecting a "very good response" to the new products, said a report in the Gulf Daily News (GDN), our sister publication.

Kandwal said this following the 88th meeting of the company's board at the Movenpick Hotel.

The company said it has sold 9,235 policies and got $181.72 million new premium as of December 15 this year.

The full year target of $160 million new premium was achieved by September itself.

In bancassurance channel, FGB Dubai has been the major contributor and Emirates NBD, with a contribution of $2.5 million, is also a significant player, the company said.

LIC of India chairman S K Roy, LIC of India Managing Director V K Sharma, Intercol director Abdulrahman Ali Alwazzan, University of Bahrain professor of finance and economics Dr S Srinivasan were the directors who attended the meeting. - TradeArabia News Service