Aug 31: The Life Insurance Corporation of India, the country’s life insurer and a financial institution of national significance, is proudly celebrating its 70th Anniversary on 1st September 2026.
From its establishment on 1st September, 1956, with the objective of spreading life insurance widely across the country and providing financial protection at a reasonable cost, LIC has completed seven decades of a remarkable journey built on trustservice, financial strength and an unwavering commitment to the people of India.
LIC continues to sustain its Leadership position in the market with 65.16% market share in policies and 56.66% market share in First Year Premium Income in the financial year 2025-26. Total AUM increased by 5.08% to ₹ 57.29 Lakh Crore.
Despite the opening of the insurance sector to private participation, LIC has retained its position as India’s largest life insurer, supported by its extensive network of branches, agents and digital platforms. It offers a wide range of life insurance, pension and market-linked products to meet the diverse financial needs of individuals and families. A major milestone in LIC‘s journey was its IPO in May 2022, followed by its listing on the NSE and BSE. Since then, the Corporation has continued to focus on corporate governance, transparency, digital transformation and customer service, while consolidating its leadership in the Indian life insurance industry.
LIC’s Golden Jubilee Foundation was established in the year 2006 as a part of LIC’s Community Service Initiatives and has so far disbursed ₹ 303 Crore under 1045 projects spread throughout the country. It has also given 41,776 scholarships amounting to ₹ 105.27 Crore to needy students.
LIC made remarkable strides in enhancing its digital platforms, ushering in a new era of convenience and efficiency for its vast clientele. Its digital initiatives, including the My LIC App, have enhanced customer convenience, accessibility and service delivery.
As LIC commemorates its 70th Anniversary, it acknowledges with gratitude the enduring confidence and support of its policyholders, shareholders, employees, agents and other stakeholders. Guided by the ethos of “Yogakshemam Vahamyaham – Your welfare is our responsibility,” LIC remains steadfast in its commitment to protecting lives, strengthening financial security and serving the evolving needs of its customers. With this enduring legacy as its foundation, LIC looks ahead with renewed purpose to a future of continued service and growth.
Dated at Mumbai on 31st August, 2026