Life Insurance Corporation of India - Company Profile
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Life Insurance Corporation of India (LIC), owned by the Government of India, is a provider of life insurance plans. The company offers endowment plans, money-back plans, term assurance plans, pension plans, special plans, unit plans, group schemes, child plans, and health insurance plans. It operates through zonal offices in Mumbai, Kolkata, Chennai, Hyderabad, Delhi, Kanpur, Bhopal, and Patna. LIC offers insurance products in India through associates and agents. The company and its associates also have operations in Fiji, Mauritius, the UK, Bahrain, the UAE, Kuwait, Qatar, Oman, Nepal, Sri Lanka, Saudi Arabia and Kenya. LIC is headquartered in Mumbai, Maharashtra, India.
Life Insurance Corporation of India premium industry data and analytics
Products and Services
Products |
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Endowment Plans |
Money Back Plans |
Term Security Plan |
XYZ |
XYZ |
XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
Year | Event | Description |
---|---|---|
2024 | Acquisitions/Mergers/Takeovers | In April, the company acquired an additional stake in Hindustan Unilever. |
2024 | Plans/Strategy | In April, the company announced its plans to sell a stake held by the Indian Government. |
2024 | New Products/Services | In February, the company launched Index Plus, a new insurance plan. |
Competitor Comparison
Key Parameters | Life Insurance Corporation of India | HDFC Life Insurance Co Ltd | ICICI Prudential Life Insurance Co Ltd | Bajaj Allianz Life Insurance Company Ltd | Max Life insurance Co Ltd |
---|---|---|---|---|---|
Headquarters | India | India | India | India | India |
City | Mumbai | Mumbai | Mumbai | Pune | Gurugram |
State/Province | Maharashtra | Maharashtra | Maharashtra | Maharashtra | Haryana |
No. of Employees | 98,463 | 32,448 | 17,825 | 20,000 | 19,338 |
Entity Type | Public | Public | Public | Private | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
Name | Position | Board | Since | Age |
---|---|---|---|---|
Siddhartha Mohanty | Managing Director; Chairman | Executive Board | 2023 | - |
Sunil Agrawal | Chief Financial Officer | Senior Management | 2022 | - |
S Sunder Krishnan | Chief Risk Officer | Senior Management | 2023 | - |
Krishna Kumar S | Chief Compliance Officer; Executive Director - (CG/GJF/Reg. Compl.) | Senior Management | 2023 | - |
Ratnakar Patnaik | Executive Director (Investment Front Office); Chief Investment Officer | Senior Management | 2023 | - |
Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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