LIC celebrates 70 years of trust

The useful part

India (LIC), the country's leading life insurer and a financial institution of national significance, will mark its 70th anniversary on September 1. LIC continues to maintain its leadership position in the life insurance market, with a 65.16 per cent market share in policies and a 56.66 per cent share in First-Year Premium Income during the financial year 2025-26. Its total assets under management (AUM) increased by 5.08 per cent to Rs 57.29 lakh crore.

How it works

• Despite the opening of the insurance sector to private participation, LIC has retained its position as India's largest life insurer, supported by its extensive network of branches and agents as well as its...
• The corporation offers a wide range of life insurance, pension and market-linked products catering to the diverse financial needs of individuals and families.
• A major milestone in LIC's journey came with its initial public offering (IPO) in May 2022 and subsequent listing on the NSE and BSE.
• Since then, the corporation has continued to focus on corporate governance, transparency, digital transformation and customer service while consolidating its position in the Indian life insurance industry.
• LIC's Golden Jubilee Foundation (GJF), established in 2006 as part of the corporation's community service initiatives, has so far disbursed Rs 303 crore across 1,045 projects throughout the country.

Details worth keeping

Established on September 1, 1956, to spread life insurance widely across the country and provide financial protection at a reasonable cost, LIC has completed seven decades of a journey built on trust, service, financial strength and commitment to the people of India. It has also awarded 41,776 scholarships worth Rs 105....