LIC (International) sends the Indian diaspora in Bahrain its heartiest greetings on the occasion of the Indian Independence Day.
LIC came into existence in the kingdom in partnership with Intercol – Consumer Products Division in 1989 with the objective of providing life insurance cover to the Indian diaspora in the GCC countries.
Its journey for the past 30 years is an exemplary story of sharing and fulfilling the dreams and prosperity of thousands of NRIs in the GCC region.
The company enjoys a niche market position targeting Indian expatriate communities and also has the requisite licence to sell it to other nationalities in a few territories.
It enjoys a strong brand connection with the Indian diaspora because of its parentage – Life Insurance Corporation of India – which is the strongest and largest life insurance company in India and globally, providing insurance coverage to 290 million customers with a market share of 75 per cent.
It is heartening that over the years, LIC (International) has emerged as one of the significant market players in the life insurance sector not only in Bahrain but in other countries as well.
Excelling in all the areas of its operation for the past 30 years, LIC’s success comes from customer centricity and the wide range of products which fulfil the needs of its customers’ entire life cycles.
Products are transparent, cost-effective and competitive, providing attractive returns and liquidity, ideal for fulfilling the dreams of your child’s higher education and settling them in their life.
The other factors are low operating costs, conventional easy-to-understand value-for-money products, bancassurance partnerships, enabling regulatory environment, domain expertise and, last but not least, LIC’s approach of giving value to its policyholders and maintaining their trust.
They also provide attractive products with health coverage, education plans for your children and pensions for retirees.
LIC’s financial performance over the years has been quite appreciable with total investment income as of December 2018 at $97 million and total first premium income at $204m in 2018.
The company has settled claims amounting to $413.5m during the year, because of the goodwill it enjoys in Bahrain and the GCC countries.
This is made possible due to the support and co-operation it receives from everyone particularly from its regulators such as the Central Bank of Bahrain, Capital Market Authority in Oman, Insurance Authority in the UAE and the Commerce and Industry Ministry in Kuwait.
LIC is fully committed to bringing value to its customers and serving them innovative products, new technological initiatives and excellent customer services.
For more information, call 39936618, visit www.licinternational.com, available in both English and Arabic, or download the customer-friendly mobile app.