Current Affairs

GK MCQs Section
Q. Consider the following statements:
  1. National Insurance Company Limited was nationalized in the year 1972 and made a subsidiary of General Insurance Corporation of India.
  2. Headquarters of United India Insurance Company Limited are located at Chennai.
  3. Life Insurance Corporation of India is the oldest insurance company in India.
Which of the statements given above are correct?
Answer: Only 1 and 2
Notes: Statement 1 is correct: NICL was nationalized in 1972 and made a GIC subsidiary. Statement 2 is also correct: United India Insurance Company is headquartered in Chennai. Statement 3 is incorrect: The oldest insurance company in India is National Insurance Company (established 1906), not LIC. LIC was formed in 1956 after nationalization.
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📌 Question Number: 294 in Money, Banking, and Finance in the above course in App.