Excelsior Correspondent
JAMMU, Sept 21: Life Insurance Corporation (LIC) of India organized a high-profile conference at GIFT City, Gandhinagar, bringing together its top leadership and heads of foreign units from key international markets including the UK, Singapore, Bahrain, Kenya, Fiji, Mauritius, Nepal, Sri Lanka, and Bangladesh.
This event follows LIC of India’s recent approval from the International Financial Services Centres Authority (IFSCA) to establish an insurance office at GIFT City. With this milestone, LIC is poised to leverage the advantages of GIFT City to enhance its global footprint, aiming to cater to the Indian diaspora through innovative insurance and investment products.
Addressing the gathering, LIC CEO and Managing Director, Siddhartha Mohanty, emphasized the strategic importance of the new office, which will serve as a gateway to expand LIC’s brand internationally and strengthen its outreach to Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs). He underscored the need for a focused approach in tapping into diverse international markets, positioning the new office as a critical hub for future growth.
Also present at the conference were LIC’s other Managing Directors; Jagannath, Tablesh Pandey, Sat Pal Bhanoo and Doraiswamy. The leadership discussed key strategies for global expansion and the role of GIFT City in facilitating LIC’s vision of becoming a global leader in the insurance industry.
LIC’s initiative to tap into the international market through GIFT City is expected to significantly boost its global presence, providing comprehensive solutions to the Indian diaspora across the globe.
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