life Insurance Corporation of India has completed 61 years of its fruitful existence. It was formed on 1st September 1956, nationalising the existing private insurance companies.
During these 61 years, it has become one of the biggest and most profitable PSUs in the country. Despite the arrival of many foreign and domestic life insurance companies, it retains more than 75% market share in the sector. It is partaking in many welfare programmes of the government and funding many projects.
The All India Insurance Employees Association [ AIIEA), the major union in the sector has also contributed much to the growth of the corporation.
on this 61st foundation anniversary of life Insurance Corporation of India, my warm greetings to lIC and AIIEA!
[ N.B: Due to fault of certain keys in the keyboard, capital letters may be missing ).