SALALAH -- LIC (International), the Gulf-based subsidiary of Indian Government-owned life insurance company has opened a representative office in Salalah in association with Global United LLC. Ambassador of India Anil Wadhwa inaugurated the office in presence of R Thamodharan, CEO of LICI, P K Mankad, MD Gulf Insurance Agencies (GIAC), the chief agents for LICI operation in the Sultanate, Ajith Kumar, GM, LICI, Manoj Pandey, Resident Manager, LICI and many local dignitaries.
Omar Abdul Aziz al Rawas, the Chairman of Global United LLC, expressed his happiness over the business tie-up with LICI / GIAC. LIC (International)/ GIAC, is in Oman for last five years extending life insurance products and services to the non-resident Indians. The company had its presence in Salalah through individual agents but this association with a local firm with a well established office will add further value in the sales and servicing aspect.
As of now, LICI is restricted to the domain of NRIs only, but recent regulatory changes in the Sultanate have given an expected opportunity to it to widen its scope of operation covering all the residents including the locals. Thamodharn said the company is in talks with the regulatory authority and the approval is expected soon. The LICI/GIAC is exploring the possibility of having such tie-ups in other big cities also and talks are in an advance stage with a few firms. The company has recently signed a referral agreement with one of the leading banks and a big corporate house to extend services to the customers, said Mankad.
By Staff Reporter
© Oman Daily Observer 2009
