Before the LIC share price, we should know about the company. LIC is an Indian insurance company. LIC company is establishing its business not in India but in the world. It has a diverse product portfolio which includes individual products and various segments of group products.
The company’s individual products include participating insurance products and non-participating products, including savings insurance products, term insurance products, health insurance products, annuity, and pension products, and unit-linked insurance products.
Its personalized products also include products designed for specific segments, such as specialized products for women and children, and micro-insurance products. Its group products include group term insurance products, group savings insurance products, group savings pension products, and group annuity products. Its all-encompassing distribution platform for personalized products includes individual agents, bancassurance partners, alternate channels, and digital sales.
lic share price | About Life Insurance Corporation of India
Major products/revenue segments of LIC of India include the amount transferred from the policyholder’s account, interest, dividend and rent, profit/loss on sale/redemption of investments, and other operating revenue for the year ending 31 March 2022.
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 223,736.35 Crore, up 31.77 % from Rs 169,790.63 Crore in the previous quarter and up 23.00 % from Rs 181,901.85 Crore in the corresponding quarter last year More From is reported by the company reported Net Profit After Tax – Rs 15,312.80 Crore in the latest quarter.
Life Insurance Corporation of India management
The company’s top management includes Mr. MR Kumar, Mr. Bishnu Charan Patnaik, Mrs. Mini Ipe, Mr. Raj Kumar, Mr. Siddharth Mohanty, Mr. Pankaj Jain, Prof. Anil Kumar, Mrs. Anjuli Chib Duggal, Mr. Gurumurthy. , , Mahalingam, Mr. MP Vijay Kumar, Mr. Raj Kamal, Dr. Ranjan Sharma, Mr. Sanjeev Nautiyal, Mr. VS Parthasarathy, Mr. Vinod Kumar Verma, Mr. Sunil Agarwal, Mr. Pawan Agarwal. B C Jain & Co. is the Auditor of the Company. The total outstanding shares of the company as of 30-09-2022 are 632.50 Crore.
lic share price COMPANY History
The corporation was established on 1st September 1956 as ‘Life Insurance Corporation of India’ under the Life Insurance Corporation Act 1956. The Corporation obtained a Certificate of Registration dated 20 September 1956 issued by the Controller to carry on the business of life insurance. Insurance. As per Insurance Act. The corporation obtained a certificate of registration from IRDAI to carry on life insurance business on 1 January 2001, which was renewed on an annual basis under section 3A of the Insurance Act. Further, as per the amendment in section 3A of the Insurance Act with effect from December 2014, the process of annual renewal of Certificate of Registration was discontinued.
the Corporation is governed by the provisions of the Governing Act; It is also registered with the Insurance Regulatory and Development Authority of India (IRDAI) and is subject to such provisions of the Insurance Regulatory and Development Authority (IRDA) Act, 1999 as amended and not inconsistent with such Act. The corporation is engaged in the business of life insurance in India and outside India.
The life insurance business of the Corporation includes individual life and group business including non-participating pension group gratuity group leave encashment group retirement group immediate annuity unit linked insurance products variable insurance products health and micro insurance. In 1956, 245 companies were nationalized and LIC came into existence on 1st September. The corporation established overseas branches in Fiji and Mauritius to sell life insurance. In 1959, the Corporation constructed the 14-story Sky Scraper building for the Southern Zonal Office. In 1960, the corporation established an overseas branch in the United Kingdom. The Officers Training College at Nagpur was established by the Corporation on 16 May.
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