LIC is India's biggest insurance provider, founded in 1956. It is an Indian insurance and investment corporation under the ownership of the Ministry of Finance, Government of India, and is the only government-owned insurance provider.

• LIC has approx 15.3 Lakhs individual LIC agents as compared to just over 12 Lakhs agents in total for the remaining 20 private life insurance agencies in India.
• LIC market share in the life insurance space in India is estimated to be 68%.
• LIC is the largest Insurance provider in India with 28 crore policies in force equaling a sum assured of Rs. 45 Lakh Crores.

LIC IPO Policyholder Category

There have been announcements of a tentative 10% reserve for the IPO, especially for LIC Policyholders. There are possibilities of a discount on the issue price for LIC policyholders, these can only be confirmed once the DRHP is issued. Eligible holders would be able to apply for the IPO under the 'Policyholder Category'