Life Insurance coverage Company of India (LIC) enters 65th 12 months of its existence on September 1, 2020. LIC has unfold its wings from being the main Life Insurance coverage Firm into an internationally recognised monetary conglomerate with the presence in 14 nations.
It has additionally ventured into different monetary providers via its subsidiaries and associates like LIC HFL Ltd, LIC Pension Fund Ltd,LIC Mutual Fund, LIC Playing cards Providers Ltd, IDBI Bank Ltd , LIC HFL Care Properties Restricted, LICHFL Monetary Providers Restricted, and LICHFL Asset Administration Firm Restricted.
Beginning with an preliminary capital of Rs 5 crore in 1956, right this moment LIC has Asset base of Rs 31,96,214.81 crore,with Life Fund to the tune of Rs 31,14,496.05 crore.
LIC has all the time been on the forefront in Nation Constructing Actions by deploying the funds to the perfect benefit of the coverage holders in addition to the Group as an entire.
The whole funds, so invested for the advantage of the group at massive are Rs 30,69,942 crore as on March 31, 2020.
LIC is right this moment serving its clients via Eight Zonal Places of work, 113 Divisional Places of work, 74 Buyer Zones, 2,048 Department Places of work, 1,526 Satellite tv for pc Places of work , 3,354 Life Plus Places of work and 31,556 Premium Factors.
Throughout 2019-20 Life Insurance coverage Company of India has registered a development of 25.17 per cent within the New Enterprise when it comes to the First 12 months Premium.