LIC Focuses on Market Leadership and Digital Expansion Ahead of Platinum Jubilee

Life Insurance Corporation of India (LIC) plans to retain its leadership in the life insurance business as the sector sees more private players.  

As per PTI news reports, Managing Director and Chief Executive Officer R Doraiswamy said the Corporation wants to maintain a comfortable lead in the market while continuing to grow alongside the Indian economy as it approaches its 75th year. 

Scale of Operations 

LIC remains the country's largest life insurer with close to 60% market share. It manages assets of more than ₹57 lakh crore and owns real estate worth around ₹60,000 crore.  

The Corporation was created in 1956 after 245 insurers and provident societies were brought under one entity through the Life Insurance Corporation Act. 

Digital Plans Under Consideration 

The insurer is evaluating the possibility of setting up a fintech arm through strategic investment or an organic route to support its digital requirements.  

It is also working with fintech and insurtech companies to develop technology-based services.  

Along with its insurance business, LIC has investments in institutions such as IDBI Bank, LIC Housing Finance, and LIC Mutual Fund. 

Network Across India and Overseas 

LIC operates through 2,048 computerised branch offices, 113 divisional offices, eight zonal offices and 1,381 satellite offices across India.  

It also has business operations in 13 countries through branch offices, joint ventures and wholly owned subsidiaries. 

The insurer said its growth over the past 7 decades has remained closely linked with the country's economic expansion. 

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Life Insurance Corporation of India (LIC) Share Price Performance  

As of June 15, 2026, 1:28 pm, Life Insurance Corporation of India (LIC) share price was trading at ₹405.90, up 1.64% from the previous closing price. 

Conclusion 

As it moves towards its 75th year, LIC is looking to preserve its market share, strengthen digital initiatives and continue its operations across India and overseas markets. 

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