LIC India funds 24% of the outlays of the Authorities of India. The insurance safety safety business carries out its operations with the help of one hundred divisional workplaces, eight zonal workplaces, two,048 division workplaces and ten,02,149 brokers.
The asset really really worth of the company has been evaluated at Rs. 9.31 trillion (US$ 202.03 billion).
Track record of Life Insurance coverage protection safety Business of India
LIC of India was built-in in 1956 with the amalgamation of a lot a lot a lot much more than two hundred insurance protection safety businesses and provident societies. Formerly, it was acknowledged as Oriental Lifestyle Insurance protection safety Company. The company was the initial to offer way of life safety in India. It was set up up up in Kolkata by Bipin Behari Dasgupta in 1818. The first nationwide insurance coverage protection security coverage supplier was Bombay Mutual Way of way of life Assurance Culture, set up in 1870. Other insurance coverage protection security companies established up up in the pre-independence time time time period consist of the subsequent:
United India (1906)
Bharat Insurance protection safety Business (1896)
Nationwide Insurance (1906)
Nationwide Indian (1906)
Hindustan Co-operatives (1907)
Co-operative Assurance (1906)
Swadeshi Way of lifestyle (later on on on Bombay Way of way of life)
Subsequent the introduction of the Way of way of life Insurance coverage safety protection Act and Provident Fund Act in 1912, the company underwent a sequence of mergers and acquisitions. Nationalization of the Insurance coverage safety company in India sped up this process. The company ranks as the very best authorities insurance coverage business at the present time.
Products and choices of Way of life Insurance coverage safety Company of India
The goods and solutions of LIC India are as follows:
Insurance coverage protection safety coverage Suggestions income protection insurance uk
Subsidiaries and affiliate entrepreneurs of LIC India
Provided beneath are the names of the subsidiaries and affiliate company proprietors of Lifestyle Insurance coverage Business of India:
LIC Advisor Office, Singapore
LIC United Kingdom
LIC (Nepal) Ltd
LIC (Worldwide) B.S.C (C), Bahrain
Saudi Indian Business for Co-op. Insurance protection, KSA.
LIC (Lanka) Ltd
LIC Mauritius Offshore Ltd.
Kenindia Assurance Co. Ltd., Kenya.
LIC Singapore Offshore Ltd.
LIC Housing Finance Ltd.
LIC HFL Financial Choices Ltd
LIC Mutual Fund AMC Ltd.
LICHFL Therapy Homes Ltd.
LIC Pension Fund Limited
LIC Taking part in taking part in playing cards Options Ltd.