The correct answer is B. Life Insurance Corporation of India (LIC).
LIC is the largest life insurance company in India, with a market share of over 60%. It was founded in 1956 and is headquartered in Mumbai. LIC offers a wide range of life insurance products, including term insurance, endowment plans, and unit-linked plans. It also offers a number of other financial products, such as mutual funds and pension plans.
The New India Assurance Company Limited is the second largest life insurance company in India, with a market share of around 10%. It was founded in 1872 and is headquartered in Chennai. United India Insurance Company Limited is the third largest life insurance company in India, with a market share of around 8%. It was founded in 1912 and is headquartered in Kolkata. National Insurance Company Limited is the fourth largest life insurance company in India, with a market share of around 6%. It was founded in 1907 and is headquartered in New Delhi.
The following are some of the reasons why LIC is the largest life insurance company in India:
- It has a long history and a strong brand name.
- It has a wide network of branches and agents.
- It offers a wide range of products and services.
- It has a strong financial position.
- It has a good track record of performance.