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LIC Full form


LIC - Life Insurance Corporation


Life Insurance Corporation of India (abbreviated as LIC) is an Indian state-owned insurance group and investment corporation owned by the Government of India.
The Life insurance Corporation of India was founded on September 1, 1956, when the Parliament of India passed the Life Insurance of India Act that nationalized the insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state-owned Life Insurance Corporation of India.

Headquarters: Mumbai
Chairperson: M R Kumar
Founder: Government of India
Founded: 1 September 1956
Total assets: 31.12 lakh crores INR (US$440 billion, 2019)
Subsidiaries: LIC Housing Finance, IDBI Bank, MORE

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