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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$630 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).
LIC Housing Finance Limited (LIC HFL) is the largest Housing Finance Company in India, with a registered corporate office in Mumbai. It is a deposit taking housing finance company, and it is a subsidiary of LIC , mainly providing long-term financing to people who purchase or construct residential houses or flats.
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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. Located on the arterial Anna Salai (formerly Mount Road), the building is 54 m (177 ft) tall.
The Government of India decided to nationalise the insurance industry. An ordinance was issued on 19 January 1956, nationalising the life-insurance sector, and the Life Insurance Corporation was established that year. The LIC absorbed 154 Indian and 16 non-Indian insurers and 75 provident societies. The LIC had a monopoly until the late 1990s ...
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Usha Sangwan is an Indian business executive and entrepreneur currently Managing Director at Life Insurance Corporation of India, India's biggest life insurance company. [2] She is the first woman to reach this position. She has now been appointed as an Independent Director at LIC of India. Usha is the daughter of Lakshman Das Mittal, founder ...