The Life Insurance Corporation of India (LICI) was established in 1956 by the Indian parliament to bring the life insurers in India together, under one roof. For over 40 years, LICI remained the only life insurer in India meeting the needs of the Indian population across the country.
The market was opened up during 1999 but after almost a decade LICI still remains the single largest player in the Indian market.
Whilst LICI employs around 122,000 people in its head office in Mumbai and other offices countrywide, it also has more than 1 million individuals distributing its products.
LICI is not just based in India. It now has branch offices in the UK, Fiji and Mauritius and subsidiary offices in the Middle East, Nepal and Sri Lanka.
The UK office was established in 1961 in London where it remains today. Originally set up to benefit the Indian community in the UK, its audience has expanded to include all members of the UK population. In addition, it also provides a service to Indian nationals working in the UK on a temporary basis.
It has been constantly reviewing its products and services to provide a modern and competitive product range utilising the latest technology to support it.