In today’s LIc 66TH anniversary post we will review the organization’s history, current stats and more.
Did you know that LIC celebrates their foundation day every year in April? Do you have any LIC plans? Indian households have a lot of insurance through LIC.
It is the most trusted organisation and is owned by the government India. It aims at providing affordable insurance to all people. We celebrate its foundation date by sharing the Lic 66TH Anniversarypost.
When does LIC mark its anniversary?
The anniversary of LIC is celebrated every September 1, since it was founded in 1956 (66 years ago). Its headquarters are in Mumbai and has eight zonal office locations in various parts of India. These include Hyderabad, Chennai, Kolkata and Patna. Additionally, it has 113 divisional office, 2048 branch offices and 74 customer areas. As per 2020 stats it has more that 110,000.
The insurance leader celebrated its Golden Jubilee in 2006.
When’s Lic66TH Anniversary?
LIC will celebrate its 66th birthday on Thursday, September 1, 2022.
The organization is internationally recognized and has a presence in 14 countries. With the support of its affiliates and subsidiaries, the company expanded into other services. LIC Mutual Funds is a popular example. LIC Housing Finance ltd and LIC International Ltd were also examples. LIC pension Funds Ltd is another example. The LIC is also a recipient of numerous awards and honors for exceptional service.
Today is Lic66TH anniversary . Let’s look back at and its formation.
History and foundation of LIC:
Sixty-six Years ago, LIC formed when Parliament passed the LIC Act. 245 insurance firms merged to form the Life Insurance Corporation of India. Initially, the government provided capital of 5 crores. It also owned 100%.
LIC’s motto reads: Your wellbeing is our responsibility. This is taken directly from Bhagavatgita’s sloka Yogshemam Vahamyaham.
M R Kumar is the chairperson and B. C. Patnaik a Managing director of Lic.
The most current statistics of the organization:
Let’s take a look at the statistics for Lic.66TH Anniversary this year.
- Revenue: Rs 724 743 crore (US$91billion) (2022).
- Total assets Rs 4254,058 crore ($US530 billion) (2022).
- Net Income: Rs 4,124 Crore (US$520m) (2022).
- Total Equity: Rs 11.338 crore (US$1.4billion) (2022).
- Operating income: Rs 13975 crore (US$1.8 Billion) (2022).
- Number of employees (2020: 114,000)
Conclusion:
LIC will celebrate its foundation today LIC ranks at 98th place in the Fortune Global 500 companies list. For information on LIC please visit this link
