New Delhi, Aug. 31 -- The Life Insurance Corporation of India (LIC), the country's leading life insurer, will celebrate its 70th Anniversary on Tuesday, September 1, 2026, marking seven decades of service since its establishment on September 1, 1956.
Founded to expand life insurance coverage and provide financial protection at a reasonable cost, LIC has retained its market leadership, with a 65.16% market share in policies and 56.66% in First Year Premium Income in FY 2025-26. Its total AUM increased by 5.08% to Rs 57.29 Lakh Crore.
Despite the entry of private players, LIC remains India's largest life insurer, supported by its extensive branch, agent and digital networks. It offers life insurance, pension and market-linked products. A key milestone was its IPO in May 2022, followed by listing on the NSE and BSE.
LIC's Golden Jubilee Foundation (GJF), established in 2006, has disbursed Rs 303 crore under 1045 projects across the country and awarded 41,776 scholarships amounting to Rs 105.27 crore to needy students.
The corporation has also strengthened its digital platforms, including the My LIC App, to improve customer convenience and service delivery.
As LIC marks its 70th Anniversary, it reaffirmed its commitment to policyholders, shareholders, employees, agents and other stakeholders, guided by its ethos, "Yogakshemam Vahamyaham - Your welfare is our responsibility."
Published by HT Digital Content Services with permission from Millennium Post.