LIC India money 24% of the outlays of the Authorities of India. The insurance coverage business carries out its operations with the help of 1 hundred divisional workplaces, 8 zonal offices, 2,048 department workplaces and 10,02,149 brokers.
The asset worth of the business has been evaluated at Rs. nine.31 trillion (US$ 202.03 billion).
Background of Life Insurance coverage coverage Company of India
LIC of India was integrated in 1956 with the amalgamation of much more than two hundred insurance coverage protection companies and provident societies. Previously, it was recognized as Oriental Way of life Insurance coverage protection Business. The business was the preliminary to offer lifestyle safety in India. It was established up in Kolkata by Bipin Behari Dasgupta in 1818. The first national insurance coverage supplier was Bombay Mutual Lifestyle Assurance Culture, set up in 1870. Other insurance coverage businesses established up in the pre-independence time time period include the subsequent:
United India (1906)
Bharat Insurance coverage protection Business (1896)
Nationwide Insurance (1906)
Nationwide Indian (1906)
Hindustan Co-operatives (1907)
Co-operative Assurance (1906)
Swadeshi Life (later on Bombay Life)
After the introduction of the Lifestyle Insurance Act and Provident Fund Act in 1912, the company underwent a series of mergers and acquisitions. Nationalization of the Insurance coverage protection business in India sped up this process. The company ranks as the greatest government insurance company at the current time.
Items and solutions of Lifestyle Insurance Company of India
The items and solutions of LIC India are as follows:
Insurance coverage protection Ideas
Device Plans whole life insurance quote
Subsidiaries and affiliate marketers of LIC India
Offered below are the names of the subsidiaries and affiliate marketers of Lifestyle Insurance protection Business of India:
LIC Consultant Office, Singapore
LIC United Kingdom
LIC (Nepal) Ltd
LIC (Worldwide) B.S.C (C), Bahrain
Saudi Indian Business for Co-op. Insurance, KSA.
LIC (Lanka) Ltd
LIC Mauritius Offshore Ltd.
Kenindia Assurance Co. Ltd., Kenya.
LIC Singapore Offshore Ltd.
LIC Housing Finance Ltd.
LIC HFL Financial Solutions Ltd
LIC Mutual Fund AMC Ltd.
LICHFL Therapy Homes Ltd.
LIC Pension Fund Limited
LIC Playing cards Solutions Ltd.