The Founder and owner of LIC company is the Indian Government. The revenue of LIC company is 7.25 lakh crores INR.
The Central Office of LIC is located in Mumbai (India). Lic is the most trustful company in India and it is the ownership of India.
Lic is life insurance it provided Life insurance, Health insurance, Investment Management, and Mutual funds and it is a source of money saving.
LIC declared it would open its IPO to the public on May 4 2022 and the process would be concluded on May 9.
Over 245 insurance companies and caution societies were united to create the state-owned Life Insurance Association of India.
M R Kumar, BC Patnaik, Smt. Ipe Mini, Siddharth Mohanty, and Rajkumar all are key people in the LIC industry.
MP Feroze Gandhi put up a case of insurance fraud in 1955. Finance Minister Nirmala Sitharaman announced a proposal to make an opening public charity for LIC in the 2021 Kendriya Budget.
The Life insurance association of India was accepted on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act which nationalized the insurance industry in India.
The Government of India holds a 100% stake in LIC. Its cost would be Rs 6 lakh crore with 3.5 dilutions, 1.1 times its insert value of Rs 5.4 lakh crore.