Life Insurance Corporations

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Life Insurance Corporation of India (LIC) is the largest insurance group and investment company in India. It’s a state-owned company where Government of India has 100%stake. It has assets estimated of INR 1325000 crore (US$220 billion). It was founded in 1956 with the merger of 245 insurance companies and provident societies(154 life insurance companies,16 foreign companies & 75 provident companies).

Head quartered in Mumbai, financial and commercial capital of India, the Life Insurance Corporation of India currently has 8 zonal Offices and 113 divisional offices located in different parts of India, around 3500 servicing offices including 2048 branches, 54 Customer Zones, 25 Metro Area Service Hubs and a number of Satellite Offices located in different cities and towns of India and has a network of 13,37,064 individual agents, 242 Corporate Agents, 79 Referral Agents, 98 Brokers and 42 Banks (as on 31.3.2011) for soliciting life insurance business from the public.

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