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Life Insurance Corporation of India
Life Insurance Corporation of India (LIC) is a statutory corporation established under Section 3 of the Life Insurance Corporation Act, 1956, and...
Life Insurance Corporation of India
Life Insurance Corporation of India (LIC) is a statutory corporation established under Section 3 of the Life Insurance Corporation Act, 1956, and majority-owned by the Government of India under the administrative control of the Ministry of Finance. Headquartered in Mumbai, it was created on 1 September 1956 through nationalization of the life insurance industry, amalgamating over 245 insurers and provident societies to spread life insurance widely, particularly in rural areas, at reasonable cost (per official history and particulars pages on licindia.in). As India's largest life insurer and institutional investor, LIC serves over 250 million lives with a comprehensive portfolio of participating and non-participating individual, group, pension, and unit-linked products, supported by an extensive network of over 2,000 branches, satellite offices, and approximately 1.46 million agents. As of 31 March 2026, Assets Under Management stood at Rs. 57,29,396 crore, with total premium income of Rs. 5,35,984 crore, market leadership in new business premiums and policies, solvency ratio of 2.35, and strong claim settlement performance (per FY2026 corporate presentation dated 22 May 2026 and Q4 FY26 press release of 21 May 2026 on licindia.in). The corporation emphasizes financial security, economic development through investments, digital transformation, and non-par product growth while maintaining its role as a trusted national institution for nearly 70 years. Leadership is provided by the CEO & Managing Director and multiple Managing Directors, with a distinguished Board ensuring robust governance.
General information
Firm type
Asset Owner
Year founded
1956
AUM
$595B (Mar 2026 approx)
Location
Region
Asia
Country
India
City
Mumbai
Corporate office
Yogakshema, Jeevan Bima Marg, Nariman Point, Mumbai, Maharashtra, India
Additional offices
New Delhi, India · Kathmandu, Nepal · Colombo, Sri Lanka
Principals
Shri R Doraiswamy
Chief Executive Officer and Managing Director (CEO & MD)
Shri Dinesh Pant
Managing Director
Shri Ratnakar Patnaik
Managing Director
Shri Ramakrishnan Chander
Managing Director
Shri Sat Pal Bhanoo
Managing Director
Shri Arindam Das Gupta
Executive Director (Investment - Front Office) & Chief Investment Officer
Sector focus
Frequently asked questions
What is the most recent AUM of Life Insurance Corporation of India?
As of 31 March 2026, Assets Under Management (AUM) were Rs. 57,29,396 crore (approximately $595 billion USD at prevailing rates), per the official FY2026 corporate presentation and Q4 performance press release.
When was Life Insurance Corporation of India founded?
LIC was established on 1 September 1956 under the Life Insurance Corporation Act, 1956, following nationalization of the Indian life insurance industry.
Who is the current CEO of LIC?
Shri R Doraiswamy serves as Chief Executive Officer and Managing Director (CEO & MD), having assumed charge on 14 July 2025 (per official board and profile pages).
Where is LIC headquartered?
The corporate office is at 'Yogakshema', Jeevan Bima Marg, Nariman Point, Mumbai – 400 021, India.
Who owns Life Insurance Corporation of India?
LIC is a public sector undertaking majority-owned by the Government of India (approximately 96.5% as of recent data), under the Ministry of Finance.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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