Established in 1956, the Life Insurance Corporation of India (LIC) is an Indian statutory insurance and investment corporation headquartered in Mumbai. It was created by nationalizing the insurance industry in India and is owned by the Government of India. LIC's primary mission is to spread life insurance widely, particularly to rural areas and to the economically and socially disadvantaged, to provide them with financial cover at a reasonable cost. In addition to its core business of life insurance, it is also a massive institutional investor in the Indian stock market.

Founded in

India