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The insurance industry till august 2000 had only two nationalised players, LIC and __________

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Question: The insurance industry till august 2000 had only two nationalised players, LIC and __________ .

Options:

  1.  NI
  2.  GIC
  3.  IRDA
  4.  None of these

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2. GIC

The insurance industry till august 2000 had only two nationalised players, LIC and GIC.

More information:

The insurance industry till august 2000 had only two nationalised players, LIC (Life Insurance Corporation of India) and GIC (General Insurance Corporation of India).

General Insurance Corporation of India Ltd. [GIC] is an state owned general insurance company of India, established on 22 November 1972.

It was set-up under Companies Act of 1956 as private company limited. Currently, it is managed and controlled under Ministry of Finance, GoI and headquartered in Mumbai.

GIC was formed for the purpose of superintending, controlling and carrying on the business of general insurance.

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