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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, Maharashtra, India.

Headquarters India

Address Jeevan Bima Marg, 19953, Yogakshema Building, P.O. Box No, Mumbai, 400021


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$

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Install Base

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IT Services Contracts

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ICT Spend & Tech Priorities

IT Client Prospector provides intelligence on Life Insurance Corporation of India’s likely spend across technology areas enabling you to understand the digital strategy.

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Products and Services

Products
Endowment Plans
Money Back Plans
Term Security Plan
XXX
XXX
XXX
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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.
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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
Benchmark the company against the market with exclusive information on key competitors Benchmark the company against the market with exclusive information on key competitors Find out more
Chart Financial activity with access to more key stats Chart Financial activity with access to more key stats Find out more
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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