Bangladesh
Bangladesh has granted permission to the Life Insurance Corporation of India (LIC) to run its business in the country. By this decision LIC became the second foreign insurance company to operate in Bangladesh. LIC was allowed to start operations as a joint venture entity to be called LIC Bangladesh Ltd with a paid up capital of Taka 1 billion (USD 1=Tk 80). Beyond India, the LIC currently operates in Nepal, Sri Lanka and Singapore.