Chemical Banking Corp.'s fledgling insurance subsidiary is striving to increase sales more than fourfold in 1995, a top executive said Tuesday.

Dennis R. Kosovac, president of Chemical Insurance Agency Inc., said the unit has set a sales goal of $9 million in life and health insurance premiums. Sales totaled $2 million in 1994, the agency's first year in operation.

Speaking at a conference in New York, Mr. Kosovac said the unit's 20 insurance agents are averaging three sales each a week, with an average ticket of $900.

Pleased with these results, Chemical plans to build its insurance sales force to 100 agents, and is readying an advertising and promotion campaign to spotlight the offerings. "We believe we have a business here," Mr. Kosovac told about 60 conference goers.

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