LIC
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Name
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Life Insurance
Corporation of India
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Headoffice
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Mumbai
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Chairman
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Shri S. K. Roy
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The Parliament of
India enacted the Life Insurance Corporation Act on the 19th of June 1956,
and the Life Insurance Corporation of Indian was established on 1st
September, 1956, with the objective of spreading life insurance much more
widely and in particular to the rural areas with a view to reach all
insurable persons in the country, providing them adequate financial cover at
a reasonable cost.
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Name
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General Insurance
Corporation
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Headoffice
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Mumbai
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Chairman
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Mrs. Alice G. Vaidyan
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General Insurance
Corporation of India (GIC Re) was approved as ‘Indian Reinsurer’ on 3rd
November,2000. As an Indian reinsurer GIC has been giving reinsurance support
to four public sector & other private general insurance companies.
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Name
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The New India
Assurance Co. Ltd.
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Headoffice
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Mumbai
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Chairman
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G.Srinivasan
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It is the
"largest general insurance company of India on the basis of gross
premium collection inclusive of foreign operations". It was founded by
Sir Dorabji Tata in 1919, and was nationalised in 1973.
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Name
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National
Insurance Company Limited (NICL)
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Headoffice
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Kolkata
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Chairman
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Shri A.V. Girija Kumar
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It is a state
owned general insurance company in India. The company was established in 1906
and nationalised in 1972. It's portofolio consists of a multitude of general
insurance policies, offered to a wide arena of clients encompassing different
sectors of the economy.[3] Apart from being leading insurance provider in
India, NICL also serves Nepal.
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Name
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United India
Insurance Company Limited
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Headoffice
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Chennai
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Chairman
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Milind Kharat
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Under Department
of Financial Services, Ministry of Finance (India), is a public sector
General Insurance Company of India and one of the top General Insurers in
Asia. With the net worth of Rs 5407 crores and profit of Rs 528 crores, the
company has collected gross premium of Rs 9709 crores as of in the financial
year 2013 :14. The company has more than seven decades of experience in Non life
Insurance business and was formed to its present form by the merger of 22
companies, consequent to the nationalisation of General Insurance companies
in India.
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Name
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Oriental
Insurance Company Ltd
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Headoffice
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New Delhi
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Chairman
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Dr. A.K.Saxena
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It was
established on September 12, 1947 in the then Bombay. It was a completely
owned subsidiary of Oriental Government Security Life Assurance Company Ltd.
It was created with the mandate of executing its parent body’s general
insurance operations.
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