LIC promotions, transfers deal urged

CHENNAI, OCT. 7. Life Insurance Corporation of India's Class I officers and management must reach a consensus on promotions and transfers for the nation's benefit, Subbulakshmi Jagadeesan, Union Minister of State for Social Justice and Empowerment, said on Wednesday.

She told the annual general council meeting organised by the Federation of LICI Class I Officers' Association, that officers played a key role in the enormous growth of LIC. She later released a souvenir with the Southern Zonal Manager of LIC, R.R. Nair, receiving the first copy.

Arcot N. Veeraswamy, MLA and DMK treasurer, said the officers were under severe work pressure as there had been no recruitment for over a decade. More private players must be encouraged in insurance to foster healthy competition and to reach out to the rural population better, he added.