Establishing its presence in the GCC in 1989, LIC International, a joint venture of Life Insurance Corporation of India, has been instrumental in fulfilling the dreams of prosperity for thousands of non-resident Indians (NRIs) in the Middle East.
“With headquarters in Bahrain and ownership of 99.7 per cent by LIC India, our operations have expanded across the Middle East, encompassing Bahrain, the UAE, Kuwait, Qatar, Oman and Saudi Arabia,” said chief executive and executive director D P Pattanaik.
“Currently, our focus remains on serving policyholders in these jurisdictions while actively marketing in the UAE (Dubai and Abu Dhabi) and Bahrain.
“For more than three decades, this insurance provider has been instrumental in helping individuals achieve financial independence through its innovative insurance and investment plans,” said Mr Pattanaik, as he emphasised the company’s vital role and outlined future growth plans.
“In today’s dynamic financial landscape, life insurance has evolved beyond mere protection to become a multifaceted investment tool.
“LIC International has embraced this trend by offering a diverse portfolio of products that cater to both protection and investment needs.
“This includes introduction of unit-linked insurance plans (ULIPs) which is having equity market-linked returns, allowing policyholders to maximise their investments yield based on risk appetite and financial goals.
“Moreover, we’ve enhanced our traditional products like child education plan with guaranteed bonuses that add value over time, ensuring that our offerings are competitive and aligned with modern financial planning needs.”
“Our customer-centric approach, backed by robust technological integration, ensures that policyholders have easy access to information and can make informed decisions.
“The aim is to provide all of Bahrain’s residents with flexible and attractive investment options that align with their financial goals and international aspirations.
“On the auspicious occasion of India’s 78th Independence Day, I, on behalf of LIC International, extend my warmest greetings and heartfelt wishes to each and every one of you.
“This day holds a special place in our nation’s history, stirring feelings of pride, patriotism, and deep gratitude for the sacrifices of our freedom fighters.
“Let us take inspiration from this celebration to work diligently towards the progress and prosperity of our beloved nation. Jai Hind!”