LIC celebrates its 69th anniversary

Mumbai: Life Insurance Corporation of India (LIC), the country’s leading life insurer, celebrated its 69th anniversary on September 1, 2025, highlighting its continued leadership in the sector and strides in digital transformation.

Despite over two decades of insurance sector liberalization, LIC retained its dominance with a 65.83 per cent market share in policies and 57.05 per cent in first-year premium income during FY25. Its assets under management rose 6.45 per cent to Rs 54.52 lakh crore.

The corporation offers 35 individual products, 12 group products, seven riders and one group rider, catering to diverse customer segments. Its digital platforms have grown rapidly, with over 2.4 crore registered users on the LIC customer portal and mobile app. The launch of the LIC Digital NRI App, QR-based collections, WhatsApp-enabled services, and AI tools such as LIC Mitra 2.0 and the Jeevan Saakshya app have enhanced customer convenience.

Since 2006, LIC’s Golden Jubilee Foundation has funded 926 community projects and awarded over 30,000 scholarships. In FY25, LIC received 22 awards for innovation, digital transformation, and customer service. Mpost