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MAHMUL 02922/2011
Hi-TECH RESEARCH ANALYSIS

Half yearly Research Journal

ISSN 2231- 6671
Vol. I, Issue : I, Feb. 2011 to July. 2011

20

4

RECENT TRENDS IN MARKETING STRATEGY OF LIC OF INDIA
S.J. Kulkarni
Dept. of Commerce, Rajarshi Shahu College, Latur, Dist. Latur.

Dr. P. N. Sagar
Voice Principal, Rajarshi Shahu College, Latur, Dist. Latur.

Research Paper -Commerce
Life Insurance Corporation of India is a public sector giant in the life insurance industry in India. For almost five decades LIC is monolithic company in the life insurance sector. Since nationalization LIC has built up a vast network of 2048 branches, 109 divisions, 8 zonal offices and 1004 satellite offices spread all over the country. The Life Insurance Corporation of India also transacts business abroad and has offices in Fiji, Mauritius and United Kingdom. With its multinational presence, it is associated with joint venture abroad in field of insurance namely, Ken India Assurance Company Limited, Nairobi, United Oriental Assurance Company Limited, Kualalumpur and LIC (international) E.C.Bahrain. Insurance Sector Reforms : The Insurance sector in India has completed a full circle from being an open competitive market to nationalization and back to a liberalized market again. From 2000, many private players entered into insurance industry with effect of privatization of insurance sector as per R.M.Malhotra Commission’s recommendations and formation of IRDA. Objectives of the Study : 1. To know market share of LIC of India in Life insurance business. 2. To know new market strategy adopted by LIC of India to increase business volume.

MAHMUL 02922/2011
Hi-TECH RESEARCH ANALYSIS

Half yearly Research Journal

ISSN 2231- 6671
Vol. I, Issue : I, Feb. 2011 to July. 2011

21

Hypothesis of the Study : Despite of entry of private players LIC plays a dominant role in life insurance business in India. Research Methodology : The research methodology of this study is


References: 1. 2. 3. 4. 5. 6. 7. Dr. P. Periasamy Principles Practice of Insurance, Himalaya Publishing House. Website IRDA. 52nd Chairman’s Review 2008-09 LIC of India. Mathew M.J. Insurance (Principles and Practice) RBSA Publishers, Jaipur. 53rd Annual Report 2009-10 of LIC of India. ‘Yogeakshema’ Journal May 2008 LIC of India. Website LIC
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