Today in the Lic 66TH anniversary post, we’ll examine its time line, its recent statistics, and more.
Do you know what day LIC is celebrating its founding day each year? Have you had any insurance plan from LIC? The insurance offered by LIC is very popular across Indian homes.
The most trusted company and is owned by the government in India which aims to provide insurance to everyone with a reasonable cost. As we celebrate its founding day, let us learn the past and present stats by reading the Lic 66th Anniversary post.
What time will LIC mark it’s anniversary?
LIC commemorates its anniversary each year on the 1st of September, as it was established on the 1st of September 1956 (66 years ago). The headquarters is located in Mumbai and there are eight zonal offices across various regions of India including Hyderabad, Chennai, Kolkata, Patna, Mumbai, Bhopal, Delhi, and Kanpur. In addition it has 2048 divisional offices, 113 divisional office branches, and the 74 customer zones. according to the 2020 figures there are more than 110,000 customers.
The top insurance company was celebrating it’s Golden Jubilee foundation in 2006.
When is Lic 66TH Anniversary?
LIC will be celebrating their 66th anniversary of establishment on September 1st, 2022 on Thursday it will enter the 67th anniversary of its establishment this year.
The company is internationally recognized and is present across 14 countries around the world. Alongside existence insurance, the company expanded into other areas through its affiliates and subsidiaries. Examples of these include LIC Mutual Funds, LIC Housing Finance Ltd, LIC International Ltd, LIC pension Funds Ltd, and so on. The LIC also have numerous honors and awards for its excellent service.
On the 66th anniversary of Lic ,let us take a look back at its past and how it was formed.
The history of LIC foundation:
Sixty-six years ago, LIC was formed when parliament approved the LIC Act which saw 245 insurance firms merged and formed the Life Insurance Corporation of India. In the beginning, the government offered an initial capital amount of five crores, and controlled the corporation 100.
The motto of LIC is “Your wellbeing is our priority and was drawn of Bhagavat Gita’s verse “Yogakshemam Vahamyaham.”
The key people of the company Included in the company are M R Kumar, who is the chairperson. B. C. Patnaik is the Managing Director at Lic.
The most recent statistics of the company:
As the Lic 66th Anniversary is being celebrated this year, we will review some of the facts about the group:
- Revenue of Rs 724,743 crore (US$91 billion) (2022)
- The total assets are. 4,254,058 million (US$530 billion) (2022)
- Net Income of Rs 4,124 crore (US$520 millions) (2022)
- Total Equity Total Equity: Rs 11,338 crore (US$1.4 billion) (2022)
- Operating income is: 1397,5 million (US$1.8 billion) (2022)
- Employees: 114,000 (2020)
Conclusion:
LIC celebrates its founding date on the 21st of May . It is the most trusted and reputable insurance company. According to the Fortune Global 500 company list, LIC stands 98th position. To find out the more details about LIC check out here
Do you have an insurance policy for life? Do you have any information about the Lic 66TH anniversary.