Overview
The Life Insurance Corporation of India (LIC) emerged on 1st September 1956, consolidating 245 private insurance companies in India. Today, it stands as a global financial conglomerate, achieving significant milestones over the decades.
World’s Largest Life Insurer
Starting humbly in 1956, LIC has grown to become the world’s largest life insurance company, boasting assets exceeding USD 300 billion as of 31 March 2015. It serves over 300 million customers with a dedicated workforce of more than 115,000 employees and 1.37 million agents.
Exemplary Claim Settlements
LIC’s claim settlement prowess is unparalleled, processing an average of 2 claims every 3 seconds on a working day globally. With outstanding efficiency, 90% of maturity claims are settled before the due date, and 85% of non-early death claims are processed within a month of intimation, maintaining one of the world’s lowest outstanding claims rates.
Trusted Local Leader
Established alongside its Indian counterpart in 1956, LIC Mauritius holds a significant share in the island’s life insurance market. It was the first insurer to extend life insurance protection to Rodrigues citizens, showcasing its commitment to local communities.
Tailored Plans and Trusted Guarantees
Offering 37 plans tailored to diverse societal needs, LIC Mauritius combines competitive pricing with a robust network of trained agents to reach every segment of society. All policies issued by LIC Mauritius are backed by the Government of India, ensuring unmatched security and reliability.
Personalised Customer Care
LIC Mauritius provides personalised customer care alongside global-scale operations, contributing stable returns and increased tax revenues to Mauritius’ economy. This dual capability offers customers 100% security and peace of mind through every insurance policy.
