Life Insurance Corporation of India (LIC) (Hindi: भारतीय जीवन बीमा निगम) is the largest insurance group and investment company in India. Its a state-owned where Government of India has 100% stake. LIC also funds close to 24.6% of the Indian Government's expenses. It has assets estimated of 13.25 trillion (US$241.15 billion). It was founded in 1956 with the merger of 243 insurance companies and provident societies.
Headquartered in Mumbai, financial and commercial capital of India, the Life Insurance Corporation of India currently has 8 zonal Offices and 113 divisional offices located in different parts of India, around 3500 servicing offices including 2048 branches, 54 Customer Zones, 25 Metro Area Service Hubs and a number of Satellite Offices located in different cities and towns of India and has a network of 13,37,064 individual agents, 242 Corporate Agents, 79 Referral Agents, 98 Brokers and 42 Banks (as on 31.3.2011) for soliciting life insurance business from the public.
The slogan of LIC is "Yogakshemam Vahamyaham" which translates from Sanskrit to "Your welfare is our responsibility". The slogan is derived from the Ancient Hindu text, the Bhagavad Gita's 9th Chapter, 22nd verse. The literal translation from Sanskrit to English is "I carry what you require". The slogan can be seen in the logo and is written in Devanagiri script below the hands holding the lamp.
Read more about Life Insurance Corporation Of India: History, Nationalization, Current Status, Awards and Recognition, Golden Jubilee Foundation
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