Life Insurance Corporation of India Share price

The Corporation was established as “Life Insurance Corporation of India” on September 1 1956 under the Life Insurance Corporation Act. Further the Corporation obtained its certificate of registration bearing registration number 512 to undertake the business of life insurance by a certificate dated September 20 1956 issued by the Controller of Insurance in accordance with the provisions of the Insurance Act. the Corporation obtained the certificate of registration from the IRDAI to undertake life insurance business on January 1 2001 which was renewed on an annual basis under Section 3A of the Insurance Act. Further pursuant to amendment to Section 3A of the Insurance Act with effect from December 2014 the process of annual renewal of certificate of registration was discontinued. Accordingly the certificate of registration issued on January 31 2014 continues to be in effect.Major events and milestones of the Corporation :2021- Launched Atma Nirbhar Agents New Business Application2020- Designated as Domestic Systemically Important Insurer (D-SII)2019- Completed the acquisition of 51% stake in IDBI Bank2015- Established a subsidiary Life Insurance Corporation (LIC) Bangladesh Limited in Bangladesh2012- Established a wholly owned subsidiary Life Insurance Corporation (Singapore) Pte Ltd in Singapore2008- Established a subsidiary LIC Cards Services Limited to provide credit card services2007- Entered into an agreement for implementation of ‘Enterprise Document Management System’ (EDMS) with an aim to convert all policy records into digital format- Established a subsidiary LIC Pension Fund Limited2006- Established ‘LIC’s Golden Jubilee Foundation’ with an aim to support construction of hospitals schools etc. and provide scholarships to meritorious students from marginalized communities.2003- Established a subsidiary Life Insurance Corporation (Lanka) Limited in Sri Lanka2000- Established a subsidiary Life Insurance Corporation (Nepal) Ltd. in Nepal1997- Implementation of Corporation’s ‘Metro Area Network’ and ‘Wide Area Network’ resulting in linking network of all branches1989- Established a subsidiary Life Insurance Corporation (International) B.S.C. (c) in Bahrain- Established LIC Mutual Fund as a trust- Established an associate LIC Housing Finance Limited1981- Implementation of ‘Reorganization Policy’ to give effect to larger scale decentralization of operations and decision-making1963-64- Corporation undertook initiatives in becoming pioneer in installing computers with installation of two computer systems - one in Mumbai and one in Kolkata with an aim to improve operations1960- Established foreign branch in United Kingdom1956- Established foreign branches in Fiji and Mauritius- Establishment of the CorporationAwards accreditations and recognitions received by the Corporation :2021-22- FICCI Special Jury Award at the Insurance Industry Awards 2021- FICCI Best Insurance Campaign – Life Category at the Insurance Industry Awards 2021- Recognised for Epitomising Excellence in the BFSI Industry at 50 Most Trusted BFSI Brands Awards 2021 by Marksmen Daily- Best PSU award in the life insurance sector at Dun & Bradstreet PSU Awards- Customer Service Excellence Award at National Award for excellence in BFSI- “Insurance Company of the year” at National Award for excellence in BFSI- Certificate at ACEF 10th Global Customer Engagement Forum & Awards in ‘Television - Promotion’ for ‘Pehle LIC’- Recognised as one of the Most Trusted Brands of India 2022 by Team Marksman India- Recognised as one of the Best BFSI - Brands 2022 by the Economic Times at the Best Brands Awards 2022- Customer Service Excellence Award at the World BFSI Congress & Awards- Insurance Company of the Year Award at the World BFSI Congress & Awards- Operational Excellence Initiative of the Year Award for ‘Ananda’ at the World BFSI Congress & Awards- Technology Initiative of the Year Award for ‘Jeevan Sakshya’ at the World BFSI Congress & Awards- Excellence in Claim Service Award at the World BFSI Congress & Awards2020-21- Certificate of Appreciation on reaching final rounds of evaluation of BML Munjal Awards 2020- HR Award 2020 in Training Excellence at the 9th Annual Greentech HR Award 2020- Golden Peacock Award for Excellence in Corporate Governance (GPAECG) for the year 2020- Continuous Campaign (Metro only) Award by IPRCCA- Jamnalal BajajUchit Vyavahar Puraskar for Fair Business Practices by Council for Fair Business Practices- SKOCH Award - Excellence in BFSI (Platinum) for claim settlements- Micro Insurance Leader Award at the Business Leader of the Year Awards- Claim Service Leader Award at the Business Leader of the Year Awards- Most Admired Company of the Year Award at the Business Leader of the Year Awards- Technology Initiative of the Year Award at the Business Leader of the Year Awards- Life Insurance Company of the Year Award at National Award for Excellence in Financial Services- Customer Service Excellence Award at National Awards for Excellence in Financial Services- Award for Marketing Excellence at National Awards for Excellence in Financial Services- Certificate of Apprenticeship by Governor of Maharashtra for excellent work done during lockdown arising out of the COVID-19 Pandemic- ABCI Award (Silver) for Wall Calendar- ABCI Award (Bronze) for Corporate Intranet- ABCI Award (Bronze) for Photo Feature- ABCI Award (Bronze) for Wallpaper- WPP Kantar Award for Top 75 Most Valuable Indian Brands 2020 for being the 2nd Most Valued Brand- FICCI Special Jury Award at the Insurance Industry Awards 20202019-2020- Aqua Foundation’s Excellence Award under the category of Excellence in Resource Management- BFSI Congress - Customer Centric Excellence Award- Life Insurance Provider of the year at Outlook Money Awards- Award for Marketing Excellence in BFSI sector at BTVI Awards- Golden Peacock National Training Award (GPNTA) for the year 2019