LIC India funds 24% of the outlays of the Authorities of India. The insurance company carries out its functions with the help of one hundred divisional workplaces, 8 zonal offices, two,048 department workplaces and 10,02,149 brokers.
The asset value of the company has been evaluated at Rs. 9.31 trillion (US$ 202.03 billion).
Track record of Lifestyle Insurance Company of India best private medical insurance
LIC of India was built-in in 1956 with the amalgamation of more than two hundred insurance coverage businesses and provident societies. Formerly, it was acknowledged as Oriental Way of life Insurance coverage Company. The business was the initial to provide lifestyle protection in India. It was set up up in Kolkata by Bipin Behari Dasgupta in 1818. The initial national insurance coverage carrier was Bombay Mutual Lifestyle Assurance Society, set up in 1870. Other insurance coverage coverage providers set up up in the pre-independence time period consist of the subsequent:
United India (1906)
Bharat Insurance coverage Business (1896)
Nationwide Insurance protection (1906)
Nationwide Indian (1906)
Hindustan Co-operatives (1907)
Co-operative Assurance (1906)
Swadeshi Lifestyle (later on on Bombay Way of life)
Following the introduction of the Life Insurance Act and Provident Fund Act in 1912, the business underwent a series of mergers and acquisitions. Nationalization of the Insurance company in India sped up this procedure. The company ranks as the greatest authorities insurance coverage company at the present time.
Products and solutions of Lifestyle Insurance coverage protection Business of India
The products and services of LIC India are as follows:
Subsidiaries and affiliate entrepreneurs of LIC India
Offered beneath are the names of the subsidiaries and affiliate entrepreneurs of Lifestyle Insurance Business of India:
LIC Consultant Workplace, Singapore
LIC United Kingdom
LIC (Nepal) Ltd
LIC (International) B.S.C (C), Bahrain
Saudi Indian Business for Co-op. Insurance coverage, KSA.
LIC (Lanka) Ltd
LIC Mauritius Offshore Ltd.
Kenindia Assurance Co. Ltd., Kenya.
LIC Singapore Offshore Ltd.
LIC Housing Finance Ltd.
LIC HFL Monetary Services Ltd
LIC Mutual Fund AMC Ltd.
LICHFL Treatment Houses Ltd.
LIC Pension Fund Limited
LIC Taking part in playing cards Solutions Ltd.