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