Life Insurance Council

Life Insurance Corporation (LIC) has had a good run in the Gulf countries with its Bahrain-based arm, LIC International, that manages the GCC markets becoming the best among its eight international subsidiaries in terms of new business premium collection in 2015.

Life Insurance Corporation (LIC) chief S K Roy was on Friday elected chairman of the Life Insurance Council, the apex industry body of insurers in the country.

To check ponzi-like activities in the insurance sector, the new ordinance has prohibited multi-layered agent structure for sale of insurance products, while it has also barred offers aimed at inducing people to buy or renew policies through multi-level marketing schemes.

Life Insurance Corporation (LIC) has had a good run in the Gulf countries with its Bahrain-based arm, LIC International, that manages the GCC markets becoming the best among its eight international subsidiaries in terms of new business premium collection in 2015.

Life Insurance Corporation (LIC) chief S K Roy was on Friday elected chairman of the Life Insurance Council, the apex industry body of insurers in the country.

To check ponzi-like activities in the insurance sector, the new ordinance has prohibited multi-layered agent structure for sale of insurance products, while it has also barred offers aimed at inducing people to buy or renew policies through multi-level marketing schemes.