The Life Insurance Corporation of India (LIC) is a state-owned insurance group and investment company headquartered in Mumbai. It is the largest life insurance company in India with an estimated asset value of ₹1,560,482 crore (US$240 billion). The company was founded in 1956 when the Parliament of India passed the Life Insurance Corporation Act that nationalized the life insurance sector in India.
The LIC of India was founded in 1956 by the Life Insurance Corporation Act.
LIC is headquartered in Mumbai and is the largest life insurance company in India.