About the Company

Type Founded Headquarters Key people Products Government-owned corporation 1 September 1956 Mumbai, India D. K. Mehrotra, Thomas Mathew and A. Dasgupta (MD) Life insurance Pensions Mutual funds 9.31 trillion (US$ 211.34 billion) Government of India 115,000

Total assets Owner(s) Employees

y Subsidaries

LIC Housing Finance Limited LIC(Nepal)Ltd LIC(Lanka)Ltd LIC(International)

y Today LIC functions with 2048 fully computerized branch offices, 109 divisional offices, 8 y y y y

zonal offices, 992 satellite offices and the Corporate office. Market share of 73.4% by end of June 2010. It also funds close to 24.6% of the Indian Government's expenses. Has a network of around 1.2 million agents for soliciting life insurance business from the public. Over its existence of around 50 years, Life Insurance Corporation of India, which commanded a monopoly of soliciting and selling life insurance in India, created huge surpluses, and contributed around 7 % of India's GDP in 2006. The slogan of LIC is "Zindagi ke saath bhi,Zindagi ke baad bhi in hindi. In english it means with life also, after life also.

y It was created with 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. y LIC is so popular that people use the term LIC for insurance.

Associates of LIC

LIC Pension Fund Ltd

LICHFL Financial S rvices

LIC Housing Finance LTD

LIC Mutual Fund

LIC Cards Services Ltd

About the Ad
y Water represents life and through the advertisement they have show

how LIC has been able to take care of people needs at every stage of life in crisis situations and even if a person is not alive.

SWOT Analysis
Strengths
Brand Image

Weakness
Lethargic Staff

Opportunities Threats
Mergers and Acquisitions. Global expansion Competition from other players. Red Tapism

Government Backing

Slow decision making

Claims Settlement Corruption/Housi Entry into Banking ng scams Sector Pan India Presence Large Product Portfolio

References

y http://en.wikipedia.org/wiki/Life_Insurance_Cor

poration_of_India
y http://www.licindia.in.