S K ROY
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1) Oriental Life Insurance Company (1818,
Calcutta) is the first insurance company in India.
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2) First Indian Company that offered
insurance was Bombay Mutual Life Assurance Society (1870).
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3) LIC was created by passing LIC Act in 1956
by consolidating 245 private life insurance providers.
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4) Life insurance is
one among 17 sectors reserved for the government in Industrial Policy
Resolution 1956.
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5) Slogan of LIC is
Yogakshemamvahamyaham (from Bhagvadgita) which means ‘Your Welfare is
Our Responsibility’.
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6) Within 57 years
of its existence, LIC contributed 7% to GDP.
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7) At present LIC
has 8 zonal offices, 113 divisional offices, 350 million policies and a
corpus of Rs.8
trillion ($ 150
billion).
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8) According to
Brand Trust Report 2012, LIC is the 6th most trusted brand in India.
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9) LIC Golden
Jubilee Foundation is a charity organisation established in 2006. It works
for providing
education,
alleviation of poverty and providing better living conditions to the poor.
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It gives
scholarships (Golden Jubilee Scholarship Award) to students of the standard
12, whose
income is less than
60000 per annum for further studies.
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10) Head quarter of
LIC is at Mumbai.
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11) Present chairman
of LIC is SK Roy.
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12) Insurance
regulatory and development authority of India (IRDAI) is the regulatory body
of Insurance sector In
India.
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13) Present chairman
of IRDAI T.S. Vijayan.
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14) FDI allowed in
insurance sector is of 49%.
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15) Type
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Public Sector
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16) Industry
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Financial services
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17) Founded
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1 September 1956
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18) Headquarters
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Mumbai, India
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19) LIC's slogan
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yogakshemam vahamyaha
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20) Key people:
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S.K Roy (Chairman),
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S.B Mainak (Managing
Director)
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V.K Sharma (Managing
Director),
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Usha Sangwan
(Managing Director)
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21) Products :
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Life insurance,
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health insurance,
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investment
management,
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mutual fund.
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