The Life Insurance Corporation
of India (LICI) was established in 1956 by the
Indian parliament to bring the life insurers in
India together, under one roof. For over 40 years,
LICI remained the only life insurer in India meeting
the needs of the Indian population across the
country.
The market was opened up during
1999 but after almost a decade LICI still remains
the single largest player in the Indian market.
Whilst LICI employs around
122,000 people in its head office in Mumbai and
other offices countrywide, it also has more than
1 million individuals distributing its products.
LICI is not just based in
India. It now has branch offices in the UK, Fiji
and Mauritius and subsidiary offices in the Middle
East, Nepal and Sri Lanka.
The UK office was established
in 1961 in London where it remains today. Originally
set up to benefit the Indian community in the
UK, its audience has expanded to include all members
of the UK population. In addition, it also provides
a service to Indian nationals working in the UK
on a temporary basis.
It has been constantly reviewing
its products and services to provide a modern
and competitive product range utilising the latest
technology to support it. |