LIC: Important Facts to know
The First insurance company in India: Oriental Life Insurance Company (1818, Calcutta)- First Indian company offered insurance: Bombay Mutual Life Assurance Society (1870)
- LIC was created by passing LIC Act in 1956 with the consolidation of 245 private life insurance providers.
- Life Insurance, one among the 17 sectors which were reserved for the government in Industrial Policy Resolution 1956
- Head quarter of LIC: Mumbai, India
- Present Chairman: S K Roy
- LIC building in Chennai: Tallest in India when it was inaugurated in 1959
- LIC Slogan: yogakshemam vahamyaha (Sanskrit) which means in English “Your welfare is our responsibility”
- From the year 2006, LIC has been continuously winning the Readers’ Digest Trusted brand award
- LIC has 8 zonal offices, around 113 divisional offices, 2,048 branches and 992 satellite offices and corporate offices
- Largest insurance company in India with an estimated asset value of ₹1560482 crore
- India’s most trusted brand according to Brand Trust Report for 4 continuous years 2011-2014.
- Major companies where LIC has raised its stake include Infosys, RIL, Coal India Ltd and Cairn India
Must Read : LIC CMDs, heads & Taglines
