Life Insurance Corporation of India
NSE: LICI BSE: 543526
₹381.50
-6 (1.55%)
Wed, 28 Oct 2026, 01:17 pm
Market Cap (in Cr)481142.57
PE Ratio8.03
Dividend2.63
Finance
Life/Health Insurance
24.5KLife Insurance Corporation of India Company History
1956
- Established on September 1 under Life Insurance Corporation Act, 1956.
- Commenced life insurance business.
1957
- Registered and transacted business in Kenya, Uganda, Tanganyika, Zanzibar, Mauritius, Aden, Malaysia, Singapore, Hong Kong, and Fiji.
1960
- Opened branch office in London and commenced business in UK.
1964
- Commenced general insurance business on April 1.
- Took over servicing of old policies.
- Converted Panjim office to branch office.
1981
- Introduced Jana Raksha Policy on May 30.
1988
- Introduced Group Insurance Scheme for Integrated Rural Development loans.
1989
- Introduced Jeevan Balya on January 19.
- Modified Jeevan Akshay plan.
- Set up LIC Housing Finance Ltd. on June 19 with Rs 100 crore capital.
- Launched Jeevan Niwas and Jeevan Kutir.
- LIC Housing Finance planned 24 area offices.
1990
- Introduced Jeevan Kishore, Jeevan Chhaya, and Jeevan Sarita.
- Launched Dhan 80 CC(1), Dhanavarsha (1), Dhanavarsha 1990, Dhanavarsha (2), Dhanasahyog, Dhan 80 CCB (1), and Chanavasha (3).
1993
- Introduced Asha Deep plan with critical illness benefits.
1994
- Introduced Bima Kiran, Jeevan Shree, Money Back Children's Assurance, Asha Deep II, and Jeevan Aadhar.
- Launched Dhanasamriddhi and Dhah Tax Saver.
1995
- Redeemed Dhanavarsha (i).
1996
- Introduced Jeevan Suraksha on August 15 for retirement income.
1997
- Introduced Jeevan Sneha for women on January 16.
- Introduced Jeevan Sanchaya money-back plan on January 16.
- Introduced Jeevan Asha from October 9 to January 15, 1998.
- Launched Dhanavarsha (10) and Dhanavarsha (11).
1998
- Introduced Jeevan Sanchaya on January 15.
- Launched open-ended schemes Dhanasahayog, Dhanaraksha 1989, and Dhanvikas (1).
- LIC Mutual Fund launched Dhanavarsha (12), Dhanavarsha (13), and LIC MF Bond Fund.
1999
- Introduced Jeevan Asha II on February 15.
- Introduced Bima Nivesh on January 14.
2000
- Sold 44.52 lakh shares of Indian Aluminium Co. Ltd.
- Linked eight metro centres to Wide Area Network.
- G. N. Bajpai appointed chairman.
- Embarked on restructuring per Booz Allen & Hamilton.
- A. Ramamurthy and N.C. Sharma appointed MDs.
- Sold 2,44,500 shares of Carborundum Universal.
2001
- Launched Bima Plus unit-linked scheme.
- Registered 65% growth despite sector opening.
- Declared Rs 7,206 crore bonus and Rs 379 crore dividend.
- N P Bali appointed ED (public relations).
2002
- Sold 19,66,735 shares of Reckitt Benckiser India Ltd.
2003
- Launched Komal Jeevan child money-back policy.
- Unveiled Jeevan Shree I scheme.
- Received Rs 350 crore blue chip stocks from Harshad Mehta auction.
- Inked pact with Teachers Provident for UK operations.
- Joined hands with SBI for investment proposals.
- Tied up with City Union Bank for insurance-linked products.
- Won bid for 1.62 crore shares of ACC at Rs 170 per share.
- Tied up with Singareni Collieries for Gratuity Life.
- V.J. Varghese selected for Global Insurance Organisation.
2004
- Tied up with CorpBank for credit cards.
- South Central Zone achieved 22.99 lakh policies.
- Launched Bonusbuilder Savings Plan, Guaranteed Lifetime Protection Plan, and Capital with Profits Bond for NRIs in UK.
- Launched Jeevan Anurag and Jeevan Nidhi plans.
- Acquired 55 lakh shares of Reliance Energy.
- Tied up with ICICI Bank and SBI for Rs 20,000 crore projects.
- Tied up with Wipro and IBM for CRM project.
- Tied up with Allahabad Bank for bancassurance.
- Allied with Union Bank for insurance-linked RD.
- Ranked 12th largest life insurer in Asia outside Japan.
- Mopped up Rs 5,200 crore via Varishtha Pension Bima Yojana.
2005
- Signed agreement for JV in Saudi Arabia.
- Introduced new unit-linked pension scheme.
- Signed 32nd bancassurance agreement with Dena Bank.
- Tied up with Central Bank for home loan cover.
2006
- Allied with UTI for annuity debit card distribution.
- Shimla division ranked first nationally.
- Coimbatore division unveiled Janashree Bima Yojana.
- North Zone achieved target.
- Started product sales in Bahrain.
2007
- Unveiled customer service centre in Thiruvananthapuram.
2008
- Partnered with APOnline for premium payments in e-Seva centres.
- Bought 7-acre property from Amrutanjan for Rs 110 crore.
2009
- Implemented pension/insurance scheme for 1 crore women in Andhra Pradesh.
2010
- Launched Pension Plus unit-linked policy.
2011
- Surpassed 2.5 crore policies by January 29.
- Launched Bima Account I and II variable insurance plans.
- Tied up with Axis Bank for credit cards.
2012
- Introduced new single premium policy.
- Increased stake in Cairn India by over 5%.
- Introduced micro insurance product for economically weaker sections.
- Launched Jeevan Vriddhi.
2013
- Increased stake in Infosys.
- Usha Sangwan appointed first woman MD.
2016
- Launched Jeevan Labh.
- Invested Rs 1.5 trillion in G-Secs, exceeding regulatory limits.
- Bought shares worth Rs 10,400 crore in 18 Sensex companies.
2017
- Launched two Aadhaar-based policies.
- Investment income reached Rs 1,80,117 crore in 2016-17.
2018
- Received approval to acquire majority stake in IDBI Bank.
2019
- Completed 51% controlling stake acquisition in IDBI Bank.
- Launched Micro Bachat plan.
- LIC Housing partnered with IMGC for special loan scheme.
2020
- Pension and Group Scheme premium income exceeded Rs 1 lakh crore.
- Government announced LIC listing.
- Acquired 2.38% stake in RITES via OFS.
- Declared relaxation for premium payments.
- Launched modified PMVVY pension scheme.
2021
- Acquired over 2% stake in Union Bank of India.
- Acquired 2.01% stake in Bharat Petroleum Corporation.
- Acquired 0.02% stake in Voltas.
2022
- Increased stake in HDFC to 5.003%.
- Acquired 2.04% stake in Siemens.
- Increased stake in PI Industries to 5.036%.
- Increased stake in Mahanagar Gas.
2023
- Introduced Dhan Vriddhi (869), Jeevan Utsav (871), and AmritBaal plans.
- Partnered with Saraswat Cooperative Bank.
2024
- Tied up with IDFC First Bank for bancassurance.
- Announced relaxations for victims of Wayanad disaster in Kerala.
- Introduced Yuva Term (875), Digi Term (876), Yuva Credit Life (877), and Digi Credit Life (878) plans.
- Prime Minister launched BIMA SAKHI Yojana at Panipat.
- Launched Jeevan Samarth mission to train 1.4 million agents.
