3. 1870: Bombay Mutual Life Assurance Society, the first Indian life insurance company started its business.

5. . On September 1st, 1956 Life Insurance Corporation of India was created, by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs 5 crore from the Government of India . With an objective of spreading life insurance much more widely and in particular to the rural areas with a view to reach all insurable persons in the country, providing them adequate financial cover at a reasonable cost.

6. The Life Insurance Corporation of India It is the largest life insurance company in India and also the country's largest investor. It is fully owned by the Government of India. It also funds close to 24.6% of the Indian Government's expenses. It has assets estimated of 5 Trillion Rupees.

7. MISSION: "Explore and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development."

8. VISION: "A trans-nationally competitive financial conglomerate of significance to societies and Pride of India."

10. 1970: It crossed to Rs.1000 crore.

11. 1986: It crossed to Rs.7000 crore.

12. June 1989:LIC housing finance limited (LICHFL) was established.MILESTONES OF LIC

14. In 1990’s: LICHFC grew into a premium housing finance company, disbursing over Rs. 50 billion of loans.

16. In 15th Oct 2005: It has crossed the milestone of issuing 1,01,32,955 new policies.

18. Life Insurance Corporation of India Type : Government-owned corporation Founded : September 1, 1956 Headquarters : Headquarters in Mumbai, India. 8 zonal Offices and 101 divisional offices Branches : 2048 Agents : 1.2 million approx Industry : Life insurance Products : Individual Life Insurance,Group Insurance and Pension Plans Total assets : Rs 5 Trillion ($200 Billion USD) Employees : 112,184 Parent : NIL Subsidiaries : LIC Housing Finance Limited, LIC(Nepal)Ltd, LIC(Lanka)Ltd, LIC(International)BSC(C),Behrain, Website : http://www.licindia.com

19. OPERATIONS IN INDIA

20. LIC had 5 zonal offices, 33 divisional offices and 212 branch offices, and the corporate office in the year 1956. Today LIC functions with 2048 fully computerized branch offices, 100 divisional offices, 7 zonal offices and the Corporate office

21. FUNCTIONING:

22. AWARDS

23. GOLDEN PEACOCK AWARD FOR EXCELLENCE IN CORPORATE GOVERNANCE, 2007 CNBC Awaaz Consumer Awards 2008 ASIA BRAND CONGRESS BRAND LEADERSHIP AWARD 2008 Pitch Award -" Rank 1 " India's Top 50 service Brands

24. Trusted Brand Award 2009 in the Platinum category Brand Equity Most Trusted Brand 2009 Top in Insurance Category Golden Peacock Innovative Product / Service Award - 2009

26. The corporation's managers were too bureaucratic.

27. The work culture in the organization was sloppy.

28. Strong trade unions made it difficult for managers to get the work done.

31. To increase the continuous link base with its clientele.

33. A written examination is conducted and the qualifiers are issued license by the IRDA Act 1999

34. The license issued under the Act as per the norms of the Regulations is valid for a period of 3 years.

36. Advisors can also qualify for the renowned MRDT (Million Dollar Round Table), an exclusive international insurance advisors club.

38. Up to 10% of 2nd and 3rd year premium

39. Up to 5% thereafter till the policies continuesEvery time a policy holder pays his installment premium, the agent receives his commission

41. Housing Sector,

42. Water Supply and Sewerage Projects/Schemes,

44. Advancement of Education

45. Medical Relief

46. The advancement of any other object of general public utility.It also provides scholarships to students from economically weaker families for pursuing higher studies under the scheme “LIC GOLDEN JUBILEE SCHOLARSHIP”

48. Chief Ministers’ Relief Funds of various states

50. INSURANCE PLANS: Children plans (JeevanKishore,JeevanChhaya etc) Plan for handicapped dependents (JeevanAadhar , JeevanVishwas) Endowment assurance plans (JeevanMitraJeevanJanraksha,JivanAmrit etc)

51. CONTD.. Money back plans (JeevanVarsha, JeevanSurabhi 15 ,20 ,25 years bimabachat etc.) Whole life plan (JeevanAnand , JeevanTarang etc.) Term assurance plan (Anmol Jeevan-1, Amulya Jeevan-1)

53. JeevanAkshay

54. New JeevanDhara

55. New JeevanSurakshaPENSION PLANS:

56. Market Plus Profit plus Fortune plus Money Plus UNIT LINKED PLANS

58. Health protection plus

59. Health plus.

60. Special plan

61. Bimanivesh 2005

62. Jeevansaral

64. Strengths: High penetration rate in rural area. It is the oldest and most well experienced player having a Pan India presence. LIC has a strong and very well developed distribution network It has a large product portfolio and claim settlement is easier to get. It has the advantage of government guarantee accompanied with it.

65. Weakness: The corporation's managers are too bureaucratic. Inefficient use of its human resources. After sales ,customer grievance redressal mechanism is inefficient. Agents not taking into account the needs of people and promote policies having high commissions only.

66. Opportunity: Emergence of a huge middle class income consumer market in the country. People becoming more aware and demanding so there is scope for a whole lot of innovative products. Pension markets, health insurance and large real estate portfolio. Strong growth potential.

67. HOW?

68. Threats: There is too much internal discord. Red-tapism is very much persistent. Entry of new private players in industry

69. COMPETITORS OF LIC

70. 2008-09

74. Strategy: In January 2000, International consultants Booze Allen & Hamilton were hired And it adopted a three-pronged business strategy for business, which involved Reduction in premiums, Higher returns and Introduction of new products.

76. Spread of financial services in rural areas and amongst socially less privileged.

77. Long term funds for infrastructure.

78. Strong positive correlation between development of capital markets and insurance/pension structure.

80. RATIONALE BEHIND THE INVESTMENT

82. People repose a lot of faith in the LIC as when most of the private insurance firms were not showing any upward trend, LIC was one of the few players in the insurance sector to show surplus growth.

83. LIC have hired about 5,000 employees and 500 officers despite the economic slowdown.

86. CONTD…………

88. CONTD……..

91. RATIO ANALYSIS

93. Information sharing

94. Accountability

96. REFERENCES:- Websites:- www.licindia.com www.wikipedia.org www.icallinsurance.com www.bimaonline.com www.irdaindia.org THE HINDU

97. THANK YOU