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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.
Headquarters
India
Address
Jeevan Bima Marg, 19953, Yogakshema Building, P.O. Box No, Mumbai, 400021
Website
www.licindia.in
Telephone
91 22 26125555
No of Employees
104,036
Industry
Financial Services
Ticker Symbol & Exchange
LICI (NSE)
Revenue (2023)
$98.1B
5.6%
(2023 vs 2022)
EPS
XXX
Net Income (2023)
XXX
38.7%
(2023 vs 2022)
Market Cap*
$46.1B
Net Profit Margin (2023)
XXX
32.6%
(2023 vs 2022)
* As of and is in US$
Access premium data and analytics for Life Insurance Corporation of India
Products and Services
| Products |
|---|
| Endowment Plans |
| Money Back Plans |
| Term Security Plan |
| XXX |
| XXX |
| XXX |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | New Products/Services | In January, the company introduced Jeevan Azad, an insurance plan. |
| 2022 | New Products/Services | In December, the company introduced select interactive services with its Policyholders on WhatsApp. |
| 2022 | New Products/Services | In November, the company launched two new products, New Jeevan Amar and Tech Term. |
Competitor Comparison
| Key Parameters | Life Insurance Corporation of India | HDFC Life Insurance Co Ltd | ICICI Prudential Life Insurance Co Ltd | Max Life insurance Co Ltd | Bajaj Allianz Life Insurance Company Ltd |
|---|---|---|---|---|---|
| Headquarters | India | India | India | India | India |
| City | Mumbai | Mumbai | Mumbai | Gurugram | Pune |
| State/Province | - | - | - | Haryana | Maharashtra |
| No. of Employees | 104,036 | 22,059 | 15,530 | 15,224 | 10,000 |
| Entity Type | Public | Public | Public | Private | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Mangalam Ramasubramanian Kumar | Chairman | Executive Board | 2019 | - |
| Sunil Agrawal | Chief Financial Officer | Senior Management | 2022 | - |
| R. Sudhakar | Executive Director (Mktg./PD); Chief Marketing Officer | Senior Management | - | - |
| Tablesh Pandey | Chief Risk Officer; Director | Senior Management | 2022 | - |
| Satyabrata Nayak | Chief Compliance Officer | Senior Management | - | - |
| Non Dignissim Eros | Proin vel | Convallis | 2023 | XX |
| Non Dignissim Eros | Proin vel | Convallis | 2023 | XX |
| Non Dignissim Eros | Proin vel | Convallis | 2023 | XX |
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