Today’s Lic66TH Anniversary blog will examine the organization’s history and present stats.
Are you aware of the date that LIC celebrates its founding day each year? Are you familiar with any plans offered by LIC? Indian homes are well-versed in insurance from LIC.
It is the most trusted and government-owned organization in India. The company aims to provide affordable insurance for all citizens. Let us celebrate its foundation day by looking at the Lic66TH Anniversarypost.
When will LIC celebrate its 25th anniversary?
Every year, LIC celebrates its birthday on September 1. It was established on September 1, 1956 (66years ago). It has eight zonal offices located in different areas of India: Hyderabad, Chennai and Kolkata. It also has 113 divisional offices and 2048 branch offices. There are also 74 customer zones. According to 2020 stats, there are more than 110,000.
In 2006, the insurance giant celebrated its Golden Jubilee.
When is the Lic 66TH anniversary?
LIC celebrates its 66th anniversary of establishment on Thursday, September 1, 2022.
International recognition of the organization has seen it in 14 countries. The organization expanded beyond life insurance and began offering other services through its subsidiaries and associates. LIC Mutual Funds and LIC Housing Finance ltd are some of the most popular. LIC International Ltd, LIC pension Funds Ltd, and LIC International Ltd are just a few examples. The LIC has received numerous awards and praises for its outstanding service.
Let us look back at its history and how it was formed on Lic66TH Anniversary
History of LIC Foundation:
Sixty-six year ago, LIC was created by parliament. In the LIC Act 245 insurance companies merged to create the Life Insurance Corporation of India. Initially, 5 crores of capital was provided by the government and it owned 100 percent.
LIC’s motto says that your wellbeing is our responsibility. It is taken from Bhagavat Gita’s sloka, “Yogakshemam Vahamyaham.”
M R Kumar is the chairperson of the company, and B. C. Patnaik, a Managing Director at Lic., are key people.
Current stats for the organization:
Let us take a look at some statistics about Lic. 66TH Anniversary, which is being celebrated this year.
- Revenue: Rs 724/743 crore (US$91 Billion) (2022).
- Total assets: Rs 4254,058 crore (US$530 Billion) (2022).
- Net Income: Rs 4.124 crore (US$520 Million) (2022).
- Total Equity: Rs 11.338 crore (US$1.4 Billion) (2022).
- Operating income: Rs 13.975 crore (US$1.8billion) (2022).
- Number of employees: 114,000 (2020).
LIC celebrates its foundation day LIC is ranked 98th on the Fortune Global 500 list. You can find more information about LIC by visiting here