The Life Insurance Corporation of India (LIC), the country’s leading life insurer and a financial institution of national significance, will mark its 70th anniversary on September 1.
Established on September 1, 1956, to spread life insurance widely across the country and provide financial protection at a reasonable cost, LIC has completed seven decades of a journey built on trust, service, financial strength and commitment to the people of India.
LIC continues to maintain its leadership position in the life insurance market, with a 65.16 per cent market share in policies and a 56.66 per cent share in First-Year Premium Income during the financial year 2025-26. Its total assets under management (AUM) increased by 5.08 per cent to Rs 57.29 lakh crore.
Despite the opening of the insurance sector to private participation, LIC has retained its position as India’s largest life insurer, supported by its extensive network of branches and agents as well as its digital platforms. The corporation offers a wide range of life insurance, pension and market-linked products catering to the diverse financial needs of individuals and families.
A major milestone in LIC’s journey came with its initial public offering (IPO) in May 2022 and subsequent listing on the NSE and BSE. Since then, the corporation has continued to focus on corporate governance, transparency, digital transformation and customer service while consolidating its position in the Indian life insurance industry.
LIC’s Golden Jubilee Foundation (GJF), established in 2006 as part of the corporation’s community service initiatives, has so far disbursed Rs 303 crore across 1,045 projects throughout the country. It has also awarded 41,776 scholarships worth Rs 105.27 crore to students in need.
The corporation has also made significant progress in strengthening its digital services, with initiatives such as the My LIC App aimed at improving convenience, accessibility and service delivery for its customers.
As LIC commemorates its 70th anniversary, it has expressed gratitude to its policyholders, shareholders, employees, agents and other stakeholders for their continued confidence and support.
Guided by its longstanding ethos, “Yogakshemam Vahamyaham – Your welfare is our responsibility,” LIC said it remains committed to protecting lives, strengthening financial security and responding to the evolving needs of its customers.
