Life insurance is one of the fastest growing sectors in India since 2000 as Government allowed Private Players and FDI up to 26% and recently cabinet approved a proposal to increase it to 49%. Life Insurance in India was nationalized by incorporating Life Insurance Corporation (LIC) in 1956. ...
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Being one of the oldest and largest government-owned life insurance companies, LIC of India continues to be the dominant life insurer even in the liberalized scenario of the Indian insurance sector. For over years now, the company is surpassing its own past records. Here are few objectives of...
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The LIC building in New Delhi (file image) | Photo Credit: Manvender Vashist The initial public offering of Life Insurance Corporation of India is ‘credit positive’ for the country’s insurance sector, said Moody’s Investor Service on Thursday, adding that it...
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1938:The Indian Act was amended to align the insurance laws to the public interest. 1956:The LIC Act was passed, leading to the establishment of theLife Insurance Corporation of India (LIC), the first major step towards the nationalization of the life insurance industry in India. ...
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