New Delhi, Sept 2: The Life Insurance Corporation of India (LIC), the country’s leading life insurer and a financial conglomerate, proudly celebrated its 69th anniversary on September 1, marking nearly seven decades of trust, growth and service.
A statement issued here said that as per the milestone reflects the dedication of LIC’s workforce, the immense trust of policyholders, and a robust system that has consistently demonstrated a commitment to excellence, innovation and customer satisfaction. Despite the liberalisation of the insurance sector over two decades ago, LIC has sustained its leadership position with 65.83 percent market share in policies and 57.05 percent market share in first-year premium income during 2024–25. Its total Assets Under Management (AUM) rose by 6.45 percent to Rs 54.52 lakh crore.
LIC currently offers a comprehensive portfolio of 35 individual products, 12 group products, 7 individual riders and 1 group rider, covering diverse needs from endowment and term insurance to annuity, child, health, micro-insurance and unit-linked plans. These are available both offline and online. The corporation has also focused on social responsibility through its Golden Jubilee Foundation (GJF), established in 2006. To date, it has disbursed Rs 283 crore in 926 projects and awarded 30,835 scholarships worth Rs 80.62 crore.
In 2024–25, LIC made significant strides in digital transformation with over 2.4 crore registered users on its customer portal and digital app. It launched the LIC Digital NRI App, introduced QR-based collections, and enabled WhatsApp-based payment and alerts. Its AI-powered chatbot, LIC Mitra 2.0, now operates in ten Indian languages, while the Jeevan Saakshya app has facilitated over 50,000 digital existence certificates. LIC’s excellence has been recognised through 22 awards and accolades in 2024–25, including honours for digital innovation, workplace environment, rural inclusion and claims settlement. It has also achieved prestigious rankings–fastest-growing Indian brand with 36 percent growth (Brand Finance 2025 Report), trusted brand reader’s digest, (September 2024), ranked second in Fortune 500 India (2024) and third among the world’s top 10 strongest insurance brands (Brand Finance Insurance 100–2025). With a presence in 11 countries and subsidiaries in housing finance, mutual funds, pensions, cards and banking, LIC has grown into an internationally acclaimed financial conglomerate. On the occasion, LIC expressed gratitude to its policyholders, shareholders, employees and field force. The corporation reaffirmed its guiding principle: “Yogakshemam Vahamyaham – Your welfare is our responsibility.”
