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Life Insurance Corporation of India (LIC) is an Indian multinational Central Public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹ 52.52 trillion (US$630 billion) as of March 2024. [ 3 ]
Number of employees. 18,000 (2023) Website. Sbi Life. SBI Life Insurance Company Limited[ 3] is an Indian life insurance company which was started as a joint venture between State Bank of India (SBI) and French financial institution BNP Paribas Cardif. SBI has a 55.50% stake in the company and BNP Paribas Cardif owns a 0.22% stake.
The Government of India decided to nationalise the insurance industry. An ordinance was issued on 19 January 1956, nationalising the life-insurance sector, and the Life Insurance Corporation was established that year. The LIC absorbed 154 Indian and 16 non-Indian insurers and 75 provident societies. The LIC had a monopoly until the late 1990s ...
LIC Housing Finance Limited ( LIC HFL) is one of the largest mortgage and loan companies in India, with a registered corporate office in Mumbai. It is a subsidiary of LIC, mainly providing long-term financing to people who purchase or construct residential houses or flats. It also finances the repair and renovation of existing residences and ...
Indian Oil Corporation Limited ( IOCL or IOC ), trading as IndianOil, is an Indian multinational [ 4][ 5] oil and gas company under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. Registered in Mumbai but headquartered in New Delhi, [ 6] it is a public sector undertaking whose operations are overseen by the ...
ICICI Lombard General Insurance is the largest private-sector general insurance company in India. [ 4 ] In a 2016 fiscal, ICICI Bank sold a 9.0% stake in ICICI General to its joint venture partner, Fairfax Financial Holdings, at a company valuation of ₹ 172.25 billion (equivalent to ₹ 250 billion or US$3.0 billion in 2023). [ 5 ]
Life insurance is one of the growing sectors in India since 2000 as Government allowed Private players and FDI up to 26% and recently Cabinet approved a proposal to increase it to 49%. In 1955, mean risk per policy of Indian and foreign life insurers amounted respectively to ₹2,950 & ₹7,859 [ 1] (worth ₹15 lakh & ₹41 lakh in 2017 prices).
Website. gicofindia .com. General Insurance Corporation of India Limited, (abbreviated as GIC Re ), is an Indian public sector reinsurance company, headquarters in Mumbai, India. It was incorporated on 22 November 1972 under Companies Act, 1956. It was the sole nationalised reinsurance company in the Indian insurance market until the insurance ...