Q. Consider the following statements:
I. Life Insurance Corporation of India is the oldest insurance company in India.
II. National Insurance Company Limited was nationalized in the year 1972 and made a subsidiary of General Insurance Corporation of India.
III. Headquarters of United India Insurance Company Limited are located at Chennai.
Which of the statements given above are correct?
Answer:
I, II and III
Notes: The oldest existing insurance company in India is the National Insurance Company, which was founded in 1906, and is still in business. The Government of India issued an Ordinance on 19 January 1956 nationalizing the Life Insurance sector and Life Insurance Corporation came into existence in the same year.
United India Insurance Company is an Indian leading General Insurance company, fully owned by Government of India and is headquartered in Chennai, India. It was incorporated on 18 February 1938, and was nationalized in 1972.