Indias largest insurer Life Insurance Corporation of India (LIC) has signed an agreement with which private sector lender as its bancassurance partner wherein the bank will distribute LICs products to its customers

2016

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

India’s largest insurer Life Insurance Corporation of India (LIC) has signed an agreement with which private sector lender as its bancassurance partner wherein the bank will distribute LIC’s products to its customers

A	Axis Bank
B	ICICI Bank
C	HDFC
D	IDBI

Explanation:

Detailed explanation-1: -LIC signs up Axis Bank as bancassurance partner.

Detailed explanation-2: -Life Insurance Corporation of India (LIC) is an Indian public sector life insurance company headquartered in Mumbai. It is India’s largest insurance company as well as the largest institutional investor with total assets under management worth ₹41 trillion (US$510 billion) as of May 2022.

Detailed explanation-3: -Life Insurance Corporation of India LIC of India was incorporated on 1st September, 1956 by amalgamating 243 Companies by the Act of Parliament called Insurance Act, 1956. LIC is governed by the Insurance Act 1938, LIC Act 1956, LIC Regulations 1959 and Insurance Regulatory and Development Authority Act 1999.

Detailed explanation-4: -Life Insurance Corporation of India (LIC), owned by the Government of India, is a provider of life insurance plans.

There is 1 question to complete.