Tuesday, April 27, 2010

Type Government-owned corporation
Industry Life insurance
Founded 1 September 1956
Headquarters Mumbai, India
Key people T. S. Vijayan (Chairman)
D. K. Mehrotra, Thomas Mathew and A. Dasgupta (Managing Directors)
Products Individual Life Insurance,Group Insurance and Pension Plans
Total assets Rs. 8 trillion (US$ 178.4 billion)
Employees 112,184
Parent NIL
Subsidiaries LIC Housing Finance Limited, LIC(Nepal)Ltd, LIC(Lanka)Ltd, LIC(International)BSC(C),Behrain,
Website www.licindia.com

The Life Insurance Corporation of India (LIC) (Hindi: भारतीय जीवन बीमा निगम) is the largest life insurance company in India, and also the country's largest investor.; it is fully owned by the Government of India. It also funds close to 24.6% of the Indian Government's expenses. It has assets estimated of Rs. 8 trillion (US$ 178.4 billion). It was founded in 1956.

Headquartered in Mumbai, which is considered the financial capital of India, the Life Insurance Corporation of India currently has 8 zonal Offices and 101 divisional offices located in different parts of India, at least 2048 branches located in different cities and towns of India along with satellite Offices attached to about some 50 Branches, and has a network of around 1.2 million agents for soliciting life insurance business from the public.

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