GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is the only public sector company in the field of life insurance?
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Oriental insurance company
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General insurance company
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New India assurance company
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Life Insurance Corporation of India
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Explanation:
Detailed explanation-1: -The life insurance sector in India comprises of, 24 are life insurance companies, Among the life insurance companies, Life Insurance Corporation (LIC) of India is the only public sector company.
Detailed explanation-2: -New India Assurance Company is a owned by the Government of India. It was founded by Sir Dorabji Tata in 1919 and was nationalized in 1973. Other three are private sector enterprises.
Detailed explanation-3: -Life Insurance Corporation of India (LIC) is an Indian public sector life insurance company headquartered in Mumbai.
Detailed explanation-4: -BHEL, ONGC, OIL are public sector undertakings.
There is 1 question to complete.