Big players
Some of the top stocks in LIC's portfolio, which delivered handsome returns during the year include ITCBSE, ONGCBSE, NHPCBSE, NTPCBSE, SBI, ICICI, Coal IndiaBSE, SAILBSE and NMDCBSE.
Good news for the customers
Thanks to higher profit from it's huge portfolio, LIC has decided to pay 40 per cent higher bonus and dividents to the government and its customers for 2016-17.
Starting of journey
The Parliament of India passed the Life Insurance Corporation Act on the 19th of June 1956, and the Life Insurance Corporation of India was created on 1st September, 1956, with the objective of spreading life insurance more widely and to reach all insurable persons in the country, providing them adequate financial cover at a reasonable cost.
Branch offices
LIC had 5 zonal offices, 33 divisional offices and 212 branch offices, apart from its corporate office in the year 1956.
Market expansion
LIC took place within a few years and many new branch offices were opened. From about 200 crores of New Business in 1957 the corporation crossed 1000 crores only in the year 1969-70, and it took another 10 years for LIC to cross 2000 crore benchmark of new business.
Market expansion
LIC took place within a few years and many new branch offices were opened. From about 200 crores of New Business in 1957 the corporation crossed 1000 crores only in the year 1969-70, and it took another 10 years for LIC to cross 2000 crore benchmark of new business.
Stable growth rate
LIC continues to be the dominant life insurer even in the liberalized scenario of Indian insurance and is moving fast on a healthy growth rate of 16.67 per cent trajectory. LIC has issued over one crore policies during the current year.
Journey continues
From then to now, LIC has crossed several milestones; set remarkable performance records in the Indian life insurance business and continues to dominate the market till date.
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