Table of Contents
Who founded LIC?
Government of India
Life Insurance Corporation/Founders
Who is the present CEO of LIC?
B C Patnaik
Patnaik, joined as a Direct Recruit Officer in 1986. Currently, LIC has a chairman and four managing directors. Insurance behemoth LIC on Friday said B C Patnaik has taken charge as the managing director (MD) of the company.
Who is the MD and CEO of LIC?
BC Patnaik
BC Patnaik has taken charge as Managing Director of Life Insurance Corporation of India on Friday. “He was appointed as Managing Director by Government of India notification dated July 5, 2021,” LIC said in a statement.
What is the full name of LIC chairman?
Board of Directors
| S.No | Name | Designation |
|---|---|---|
| 1 | Shri. M R Kumar | Chairperson |
| 2 | Shri. Pankaj Jain | Government Nominee Director |
| 3 | Shri. Raj Kumar | Managing Director |
| 4 | Shri. Siddhartha Mohanty | Managing Director |
What is the main objective of LIC?
The primary objective of LIC of India is to spread the importance of life insurance widely in the rural areas and people belonging to socially and economically backward classes. The company functions with a view of providing such individuals with financial cover against death at a reasonable cost.
Who is Mr Kumar?
Kumar, took charge as Chairman, LIC of India on 14th March, 2019. He joined LIC of India in 1983 as a Direct Recruit Officer.
Which is the first insurance company in India?
Bombay Mutual Life Assurance Society
1870: Bombay Mutual Life Assurance Society, the first Indian life insurance company started its business. 1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business.
Who are Mr Kumar?
Where is the headquarters of LIC?
Mumbai, India
Life Insurance Corporation/Headquarters
What is LIC explain?
Life Insurance Corporation of India (abbreviated as LIC) is an Indian statutory insurance and investment corporation. The Life insurance Corporation of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act that nationalized the insurance industry in India.
What is LIC Jeevan Anand tag line?
This tag line is very popular among all policy holders. A very simple meaning which elaborates the meaning of Life Insurance. This tag line was became popular with LIC plan called Jeevan Anand. LIC Jeevan Anand is the most popular plan in Insurance Industry.
How much of LIC shares will be allotted to existing policyholders?
Ten percent of shares are proposed to be allotted to existing LIC policyholders. In year 2021, government of India had proposed to significantly enhance the authorised capital of Life Insurance Corporation of India (LIC), to INR 250bn ($3.4bn) to facilitate its public listing scheduled for the next fiscal year which will begin on 1 April.
Where is the Central Office of LIC located?
The Central Office of LIC is based out of Mumbai which sits The Chairman, all four Managing Directors, and all Executive Directors (Department Heads). LIC has a total of 8 Zonal Offices namely Delhi, Chennai, Mumbai, Hyderabad, Kanpur, Kolkata, Bhopal & Patna.
What is the meaning of LIC MDRT agent?
MDRT agent is one who procures insurance business of amount equal to one million dollar in any calendar year that is from 1st Jan to 31st Dec. It is club well known in LIC, in every branch there 4-5 agents who are MDRT agents. They are considered as the most productive agents in LIC.