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The Life Insurance Corporation of India (LIC) is an Indian multinational public sector life insurance company headquartered in Mumbai.It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹ 52.52 trillion (US$610 billion) as of March 2024. [4]
Life insurance is one of the growing sectors in India since 2000 as Government allowed Private players and FDI up to 26% and recently Cabinet approved a proposal to increase it to 49%. In 1955, mean risk per policy of Indian and foreign life insurers amounted respectively to ₹2,950 & ₹7,859 [ 1 ] (worth ₹15 lakh & ₹41 lakh in 2017 prices).
The Insurance Act of 1938 [9] was the first legislation governing all forms of insurance to provide strict state control over insurance business. Life insurance in India was completely nationalised on 19 January 1956, through the Life Insurance Corporation Act.
Reliance Nippon Life Insurance Company: Private Mumbai: 2001 12: Aviva Life Insurance Company India Ltd. Private Gurugram: 2002 13: Sahara India Life Insurance Co. Ltd. Private Lucknow: 2004 14: Shriram Life Insurance Co. Ltd. Private Hyderabad: 2005 15: Bharti AXA Life Insurance Co. Ltd. Private Mumbai: 2008 16: Future Generali India Life ...
LIC Building is a 15-storied building in Chennai, India, serving as the southern headquarters of the Life Insurance Corporation of India. It is the first skyscraper built in India [ 4 ] [ 5 ] and an important landmark in the city.
The business of general insurance was nationalised through The General Insurance (Emergency) Provisions Ordinance promulgated on 13 May 1971 and thereby the business being carried on by 107 entities was consolidated and restructured into four companies namely The New India Assurance Company Limited, Bombay, United India Fire & General Insurance Company Limited, Madras, Oriental Fire & General ...
Indian Oil Corporation: Oil and gas: 872,093 25% 9,792 New Delhi: Yes 3 Life Insurance Corporation: Insurance 792,427 9% 35,997 Mumbai Yes 4 Oil and Natural Gas Corporation: Oil and gas: 638,965 27% 35,440 New Delhi Yes 5 Bharat Petroleum: Oil and gas 477,855 34% 2,131 Mumbai Yes 6 State Bank of India: Banking: 473,378 16% 55,648 Mumbai Yes 7 ...
Subcategories and pages related to LIC of India Pages in category "Life Insurance Corporation" The following 4 pages are in this category, out of 4 total.