Search results
Results from the WOW.Com Content Network
Life Insurance Corporation of India (LIC) is an Indian multinational 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$610 billion) as of March 2024. [ 4 ]
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). Life Insurance in India was nationalised by incorporating Life Insurance Corporation (LIC) in 1956.
National Insurance Company Limited was incorporated on 5 December 1906 with its registered office in Kolkata.Consequent to passing of the General Insurance Business Nationalisation Act in 1972, 21 Foreign and 11 Indian Companies were merged with it and National became a subsidiary of General Insurance Corporation of India (GIC) which is fully owned by the Government of India.
The Insurance Repository in India is a database of insurance policies.It allows policy holders to make revisions to a policy. It launched on 16 September 2013. It is the world's first of its kind.
The LIC absorbed 154 Indian and 16 non-Indian insurers and 75 provident societies. The LIC had a monopoly until the late 1990s, when the insurance industry was reopened to the private sector. General insurance in India began during the Industrial Revolution in the West and the growth of sea-faring commerce during the 17th century.
Following is the list of insurance companies in India which have been approved by the Insurance Regulatory and Development Authority of India (IRDAI) which is a statutory body regulating and promoting the insurance and reinsurance industries in India.There are three types of Insurance Companies in India which are as given below:
South bracing for storms. Areas of rain, fog and thunderstorms are likely from northeastern Texas to the mid-Mississippi Valley and parts of Indiana, Illinois, Ohio, Kentucky and other states in ...
The company got incorporated as a public limited company in Mumbai on 11 October 2000 and received Certificate of Commencement of Business from the RoC on 20 November 2000 and got registered with the IRDAI for carrying out business of life insurance on 29 March 2001. [6]