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August 02, 2015 9:28 AM ET

Insurance

Company Overview of Life Insurance Corporation of India

Company Overview

Life Insurance Corporation of India provides life insurance products in India and internationally. The company offers insurance, pension, unit, special, and micro insurance plans; groups schemes, withdrawn plans, and health plans. It provides its products through its branch or divisional offices, and agents. The company was founded in 1956 and is based in Mumbai, India. It has branch, divisional, zonal, and satellite offices in India.

Yogakshema

West Wing

4th floor

Jeevan Bima Marg

Mumbai,  400021

India

Founded in 1956

Phone:

91 22 2202 2151

Fax:

91 22 2202 8943

Key Executives for Life Insurance Corporation of India

Managing Director, Executive Director, Member of Executive Committee, Member of Building Advisory Committee and Member of Social Security Committee
Age: 59
Managing Director, Executive Director of Corporate Communication, Director, Member of Risk Management Committee and Member of Policyholder Protection Committee
Age: 57
Managing Director, Chief Executive Officer of Housing Finance, Managing Director of Housing Finance, Director and Member of Policyholder Protection Committee
Age: 57
Chief Executive of Lichfl-Central Office Mumbai and Managing Director of Lichfl-Central Office Mumbai
Age: 55
Chief Executive Officer of Fgn-Bahrain and Managing Director of Fgn-Bahrain
Compensation as of Fiscal Year 2015.

Life Insurance Corporation of India Key Developments

Life Insurance Corporation of India Announces the Resignation of Lalit Mohan Lohani from the Directorship of the Company

Life Insurance Corporation of India announced the resignation of Shri Lalit Mohan Lohani from the directorship of the company with effect from May 25, 2015.

IDBI Bank Inks Agreement with Life Insurance Corporation of India to Offer Life Insurance to its Saving Bank Account Holders

IDBI Bank has inked an agreement with Life Insurance Corporation of India to offer life insurance to its saving bank account holders under the central government's scheme Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJBY). As per the scheme, the bank account holders, between 18 and 50 years, will get an insurance coverage of INR 200,000 for which the consumers have to pay a nominal premium of INR 330 with service tax annually. The life cover will be available up to 55 years.

Dena Bank, LIC Sign MOU to Provide Life Cover Under PMJBY

Dena Bank signed agreement with LIC to provide insurance cover to its savings account holders under the Prime Minister's Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJBY) scheme. Under the Memorandum of Understanding, LIC will give a life cover of INR 0.2 million in case of death of the insured person at a nominal premium of INR 330 per annum. Account holders in the age group of 18 to 50 years can avail of the product. People who join the scheme before completing 50 years can continue to have the risk of life cover up to the age of 55 years subject to payment of premium. The scheme will come into effect from June 1, 2015. The bank customers can join the scheme between June 1, 2015 to May 31, 2016.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 14, 2015
Cairn India Limited
Private Placement
March 7, 2015
Bank of India Limited
Private Placement
March 5, 2015
Canara Bank Limited
 

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To contact Life Insurance Corporation of India, please visit www.licindia.in. Company data is provided by Capital IQ. Please use this form to report any data issues.

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