July 24, 2016 1:59 AM ET

Insurance

Company Overview of Life Insurance Corporation of India

Company Overview

Life Insurance Corporation of India provides life insurance products and services in India. The company offers insurance, pension, unit, special, and micro insurance plans, as well as withdrawn plans and health plans; Aam Admi Bima Yojana, a social security scheme; and group insurance schemes for employers, associations, societies, etc. It serves customers through its branch or divisional offices, and agents. The company was founded in 1956 and is based in Mumbai, India with various branch, divisional, zonal, and satellite offices in India. It has operations in the United Kingdom, Sri Lanka, Fiji, Mauritius, Bahrain, Nepal, and Singapore.

Yogakshema

Jeevan Bima Marg

P.B. No 19953

Mumbai,  400021

India

Founded in 1956

Phone:

91 22 2202 8225

Fax:

91 22 2202 8943

Key Executives for Life Insurance Corporation of India

Managing Director, Executive Director of Corporate Communication, Director, Member of Risk Management Committee and Member of Policyholder Protection Committee
Age: 58
Managing Director, Managing Director of Housing Finance, Chief Executive Officer of Housing Finance, Director and Member of Policyholder Protection Committee
Age: 58
Chief Executive of Lichfl-Central Office Mumbai and Managing Director of Lichfl-Central Office Mumbai
Age: 56
Chief Executive Officer of Fgn-Bahrain and Managing Director of Fgn-Bahrain
Chief Executive of Licnmfamc- Central Office Mumbai
Compensation as of Fiscal Year 2016.

Life Insurance Corporation of India Key Developments

Government of India Mulls Sale Of Stake In Three Companies

The Government of India is in talks with Life Insurance Corporation of India (LIC), to sell significant stakes owned by The Specified Undertaking of the Unit Trust of India, on behalf of the government. Some reports say that LIC could be buying up to 5% stake mainly in AXIS Bank Limited (BSE:532215), Larsen & Toubro Limited (BSE:500510) and ITC Limited (NSEI:ITC)

Life Insurance Seeks Acquisitions

Life Insurance Corporation of India reported that it plans to to buy between a third and half the equity assets of the Specified Undertaking of the Unit Trust of India.

The LIC of India Appoints Santha Varkey as Senior Divisional Manager of Thiruvananthapuram Divisional Office

The LIC of India has appointed Santha Varkey as senior divisional manager of its Thiruvananthapuram Divisional Office. Varkey has joined LIC in 1990 as a direct recruit officer.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 31, 2016
National Stock Exchange of India Ltd.
Private Placement
March 30, 2016
Allahabad Bank
Private Placement
March 29, 2016
Oriental Bank of Commerce
 

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