August 2015 69 www.bahrainthismonth.com india independence Delivering on Promises LIC INTERNATIONAL With more than 26 years’ experience in the Bahrain market, LIC International continues to grow, building on the trust of its customers. LIC (International) BSC was established on the island in July 1989, in partnership with Intercol, with the aim of providing life insurance cover to the Indian diaspora of the GCC countries. With the backing of its Indian state-owned parent company, LIC of India, it has gone from strength to strength over the years serving not only non-resident Indians, but also many other nationalities too. In 2014 more than 11,000 new policies were underwritten with a premium income of USD185.45 million, total premium income was USD258.49 million and almost USD87 million was paid out in claims to policy holders. Ratings agency AM Best said of LIC: “The company has a strong and long track record of generating good profits. The diversified global portfolio has generated steady investment income and provides a strong margin in excess of guaranteed payment.” The company’s excellence has been recognised with a number of awards including the Middle East Investment Forum award 2012, from the Central Bank of Bahrain, for its innovative products and customer service. CEO and MD, Rajesh Kandwal, says: “The company has always lived up to the trust of its customers by way of delivery on its promises by product innovation and excellent customer service. What sets us apart from other brands is unique product range catering to the specific needs of our ‘niche’ market of NRIs. Our short-term products with competitive return also attract other nationalities.” Call 17 210-610. Rajesh Kandwal
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