Life Insurance Corporation of India becomes the 10th most valued insurance brand globally // Some Information about insurance and LIC // 2022 Current Affairs //

Life Insurance Corporation of India becomes the 10th most valued insurance brand globally:

On the recently released brand valuation report by Brand Finance, Life Insurance Corporation of India (LIC) has been ranked 10th on the list of insurance brands globally. It makes LIC the only entrant from India in the list of the world's top 10 most valued insurance companies. On the list of top 10, most are from china numbered a total of 5. Ping, a Chinese Insurance company retained first place on the valuation list with a brand value of $54.6 billion despite a 26% brand value loss compared to the previous year. In this context, it is important to note that LIC got a valuation of $8.656 billion (around RS 65000cr).

What is Insurance?

Insurance is a type of protection against a future possible loss, damage, death or any other uncertain outcome.

Do you know there is a term Re-Insurance?

So what it is! Long speech short it's a type of Insurance for Insurance. General Insurance Corporation of India Limited is one of the largest Re-Insurance companies that serve insurance companies.

SPECIAL NOTES FOR ASPIRANTS:

• LIC HQ: Mumbai

• LIC was founded on 1st September 1956.

• LIC Chairman: M R Kumar

• Ministry of Finance owns LIC.

• IDBI Bank is owned by LIC.