Life Insurance Corporation of India

Overview

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, India. The company reported total premium income of INR37,90,625.6 million for fiscal year ended March 2020 (FY2020), which shows an increase of 12.4% over that in FY2019.
Key Stats
Address
Yogakshema Building, Jeevan Bima Marg, Mumbai, Maharashtra
Headquarters

India

Contact

91 22 839867

Website
www.licindia.in
No of Employees

111,979

Industry

Financial Services

Peer Comparison

Key Parameters Life Insurance Corporation of IndiaICICI Prudential Life Insurance Co LtdHDFC Life Insurance Co LtdBajaj Allianz Life Insurance Company Ltd
Key Information
Headquarters India India India India
Headquarter City Mumbai Mumbai MUMBAI Pune
Headquarter State/Province Maharashtra Maharashtra - Maharashtra
No. of Employees 111,979 14,413 20,636 10,000
Entity Type Private Public Public Private

Products & Services

LIC is a provider of life insurance products. The company's key products include the following:

Products
  • Endowment Plans
  • Money Back Plans
  • Term Security Plan
  • Vitae Eget Libero
  • Vitae Eget Libero
  • Vitae Eget Libero
  • Vitae Eget Libero
  • Vitae Eget Libero
  • Vitae Eget Libero

Employees

Name Position Board Since Age Biography
M R Kumar Chairman Executive Board 2019 - Mr. M R Kumar has been the Chairman of the company since March 2019. Prior to this, he served as...
T.C. Suseel Kumar Managing Director Executive Board 2019 - Mr. T.C. Suseel Kumar has been the Managing Director of the company since March 2019. Prior to this, he was...
Non Dignissim Eros Proin vel Convallis 2015 XX In vitae nisi ut tortor rutrum suscipit vel vitae ligula. Mauris sed tellus non augue ultricies ultricies. Aliquam vitae urna congue.
Non Dignissim Eros Proin vel Convallis 2015 XX In vitae nisi ut tortor rutrum suscipit vel vitae ligula. Mauris sed tellus non augue ultricies ultricies. Aliquam vitae urna congue.

History

Year Event Description
2021 New Products/Services In January, the company introduced online proposal deposit collection feature in Atma Nirbhar Agent New…
2021 Acquisitions/Mergers/Takeovers In May, the company acquired additional 2% stake in Union Bank of India.
2021 Financing Agreements In June, the company announced to raise US$3.41 billion from anchor investors before IPO of…
2021 Quis autem vel Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam
2021 Quis autem vel Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam
2021 Quis autem vel Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam

Locations


LIC Housing Finance Ltd

Address

Maker Tower, "F" Premises, 13th Floor, Cuffe Parade, Cuffe Parade, MUMBAI
India

Telephone

91 22 22178612

Website

www.lichousing.com
IDBI Bank Ltd

Address

22nd floor, IDBI Tower, WTC Complex, Cuffe Parade,, Cuffe Parade, MUMBAI
India

Telephone

91 22 66553062

Website

www.idbi.com
LIC (International) BSC

Address

Ali Alwazzan Bldg., 1St Floor, Al Khalifa Avenue,, P.O. Box 584, Manama
Bahrain

Telephone

973 17210610

Website

www.licinternational.com
Life Insurance Corporation (Lanka) Ltd

Address

1st and 3rd Floor, Sharnell Building, 29-2 Visaka Road, Colombo
Sri Lanka

Telephone

94 11 2552277

Website

www.liclanka.com
Life Insurance Corporation (Nepal) Ltd

Address

P.O. Box 21905, Kathmandu
Nepal

Telephone

977 1 4012613

Website

www.licnepal.com.np
LIC Pension Fund Ltd.

Address

Industrial Assurance Building, B-5, 5 th Floor, Veer Nariman Road, Churchgate, Mumbai
India

Telephone

91 022 22882871

Website

www.licpensionfund.in
Life Insurance Corporation (Singapore) Pte Ltd

Address

No. 10- 01, Bharat Building, 3 Raffles Place, Singapore
Singapore

Telephone

65 62234797

Website

www.licsingapore.com

Deals

Number of Deals
Deal Value (US$ m)

Latest Deals

Announced Date Headline Deal Type Acquirers / Investors / Surviving Entity Issuer / partner / Target
16 May 2021 Punjab National Bank (PNB) Raises USD245 Million in Private Placement of Shares Equity Offering Mauritius private equity; Segantii Capital Management Limited; Morgan Stanley Wealth Management; BNP Paribas SA; Life Insurance Corporation of India; Societe Generale SA Punjab National Bank
08 Apr 2021 Life Insurance Corporation (LIC) Acquires Additional Stake in Mahindra & Mahindra Acquisition Life Insurance Corporation of India Mahindra & Mahindra Financial Services Ltd
07 Mar 2021 Life Insurance (LIC) to Sell Stake in Industrial Development Bank (IDBI Bank) Acquisition IDBI Bank Ltd
02 Feb 2021 Lorem ipsum dolor sit amet, consectetur adipiscing elit Eiusmod Tempor Exercitation cillum velit
25 Sep 2020 Lorem ipsum dolor sit amet, consectetur adipiscing elit Eiusmod Tempor Exercitation cillum velit
07 Sep 2020 Lorem ipsum dolor sit amet, consectetur adipiscing elit Eiusmod Tempor Exercitation cillum velit