The Life Insurance Corporation of India (LIC) was started on September 1, 1956. This confirms that the Government of India is the Stakeholder of LIC, also there was a moto behind this corporation. The Parliament of India passed the LIC Act to spread awareness about insurance policies and sell policies to all Indians at affordable prices.
How is it decided? whether any company is Private or Government?
The answer is simply checking the shareholding in that company, so according to the shareholding data In LIC the Government of India owns 96.50% of Shares worth ₹69,806 million as of the year 2024. and the second largest owner is at 0.236% worth ₹171 million.
This indicates that the Government of India owns LIC or LIC is a Government Company.
| LIC Share Holder Name | Percent Holding |
|---|---|
| Govt of India | 96.50% |
| Quant Money Managers Ltd. | 0.236% |
| SBI Funds Management Ltd. | 0.233% |
| Kotak Mahindra Asset Management Co. Ltd. | 0.067% |
Is LIC Safe to Invest?
If you are looking at LIC from a trading point of view then you should not consider its ownership as Government or Private ownership. But you must look at the company management and working ethics.
LIC itself has a lot of corpus in hand which was not claimed by their customers, which means it owns a lot more money in hand/cash format. Also, LIC Owns IDBI Bank with more than 45% shares and from my point of view, IDBI is also a growing share nowadays.
If you are looking for a safe investment option and long-term gain, I think LIC is a giant Elephant that will move slowly so LIC is not for Money growth investment from my point of view.
That was my perspective (don’t take it as a piece of advice) let me know what you think, you can contact us or write in the comment box, I would love to reply to you.
FAQ – Most Asked Questions about LIC Ownership:
Q 1. Is LIC 100% Owned by Government?
Answer: As per the Shareholding data available till the year 2024 Government of India owns ~96% of the LIC. Which is 4% less which means LIC is not 100% owned by the Government of India.
Q 2. Is LIC Now a Private Company?
Answer: No LIC is Government Owned but Public Sector Company, you will not find any particular person or group of persons who own LIC of India Privately.
Q 3. Is an LIC Employee a government employee?
Answer: Yes, definitely as LIC is a Government Company you can say that LIC Employees are Government Employees.
Q 4. What Percentage of LIC is owned by the government?
Answer: The Government of India owns a 96.5% share in the LIC Company.
Q 5. Is LIC housing finance a private or Government Bank?
Answer: LIC HFL or LIC Housing Finance Bank is not directly owned by the Government of India, but it is owned by the LIC Company itself which is a public sector company. But yes, LIC HFL is backed by the Government, because LIC is a Government-owned company.