Life Insurance Corporation of India

Past performance
Performance overview
Life Insurance Corporation of India
About Life Insurance Corporation of India Life Insurance Corporation of India (LIC), established on September 1, 1956, is a state-owned insurance group and investment corporation in India. Initially formed through the nationalization of 245 insurance companies, it operates under the Life Insurance Corporation Act, 1956. LIC is governed by the Insurance Regulatory and Development Authority of India (IRDAI) and offers a wide array of life insurance products, including individual and group policies, pension plans, unit-linked insurance, and health insurance. The corporation has expanded internationally with branches in countries such as the UK, Fiji, and Mauritius. LIC has made significant strides in digitalization and modernization, including launching various tech-based services and establishing subsidiaries like LIC Housing Finance Limited and LIC Mutual Fund. The corporation has also ventured into the banking sector by acquiring a 51% stake in IDBI Bank. In recent years, LIC has introduced multiple new insurance products and expanded its global reach, reflecting its commitment to innovation and customer service. Its shares were listed on the BSE and NSE in May 2022.
Website licindia.in
Founded 1956
Headquarters Mumbai