in Finance by (263k points)

Question: What is LIC? When LIC was established?

Please log in or register to answer this question.

1 Answer

0 votes
by (737k points)
selected by
Best answer

LIC [Life Insurance Corporation of India]

LIC (Life Insurance Corporation of India) is an India's largest insurance and investment company under the ownership of Ministry of Finance, Government of India.

With the slogan "Zindagi ke saath bhi, Zindagi ke baad bhi."; LIC is one of the largest insurance company of India employing more than 1,10,000 peoples.

Some quick facts about LIC:

  • Chairperson- M R Kumar
  • Headquarter- Mumbai
  • Founded- 1 September 1956
  • Number of employees- 110,000+
  • Parent organizations- Ministry of Finance, Government of India.

When LIC was established?

LIC was established in 1956 after passing of Life Insurance of India Act. This act nationalised all the private insurance companies in India.

Related questions