The correct answer is: A. Government Company
Life Insurance Corporation of India (LIC) is a government-owned insurance and investment corporation based in India. It is the largest insurance company in the world by market capitalization, with over $500 billion in assets. LIC was established in 1956 by the Life Insurance Corporation Act, which was passed by the Indian Parliament. The Act provided for the nationalization of all life insurance companies in India and their transfer to LIC.
LIC offers a wide range of life
insurance products, including term insurance, endowment insurance, whole life insurance, and unit-linked insurance plans. It also offers a range of investment products, including mutual funds, pension funds, and infrastructure bonds.LIC is a major player in the Indian financial sector. It has a large customer base and a strong financial position. LIC is also a major employer in India, with over 1.5 million employees.
The other options are incorrect because:
- A holding company is a company that owns a controlling interest in another company.
- A public corporation is a company that is owned by the public, either through the government or through the stock market.
- A subsidiary company is a company that is owned by another company, called the parent company.