COMPANY AT A GLANCE
(International) BSC (C) came into existence on the 23rd of July,
1989 in the Kingdom of Bahrain in partnership with International Agencies Co.
Ltd. (Intercol), with the objective of providing life insurance cover to Indian
diaspora in GCC countries. The company operates in 4 GCC countries: Bahrain,
UAE (Dubai and Abu Dhabi), Kuwait, and Oman.
(International) enjoys a niche market position targeting Indian expatriate
community within the GCC countries and subsequently to residents of any
nationality. Its parent company, State owned LIC of India is the strongest and
largest Life Insurance Company in India with a market share of more than 75%.
(International) has excelled in all areas of operation for the last 28 years
and stands out as one of the significant market players in life insurance
sector, not only in Bahrain but also of GCC. The Market Share of the Company is
45.85% in Total Premium Income, and in respect of Total Policies the Market
Share 89.98% as at 31st December, 2016.
The company has
been preforming exceedingly well for the last few years in the area of New
Business and First Premium Income. The Total New Business as on 31st
December is 15,008 policies and the Total First Premium Income as on 31st
December, 2017 is USD 534 Million.
The company has
an Asset base of USD 2,189 Million as on 31st December, 2017. Mr.
Rajesh Kandwal, CEO & Managing Director, informed that the Company touched
USD 2 Billion landmark before the end of 2017. With its wide and attractive
range of products, which offer benefits like reasonable returns, guarantee,
life risk, pension etc. it is slowly expanding into other nationalities also in
addition to the NRIs.
The reason for
LIC (International’s) strength in the market is the trust people have in the
company, which came from them honoring their agreement to the customer. With
that being said as on 31st December, 2017 the company paid USD 194 Million
Bancassurance partners are Abu Dhabi Commercial Bank (ADCB), Bank of Bahrain
and Kuwait (BBK), Emirates NBD, First Abu Dhabi Bank (FAB), Mashreq Bank, RAK
Bank, and ICICI Bank. The contribution from Bancassurance has been significant
for the last 3 years.
OUR PRODUCT-OUR PRIDE
Our unique and
wide range of products (all plans are issued in US $) has something to offer
for every need of a customer- be it life cover at lower cost, attractive
return, liquidity, provision for Children’s education/ Marriage or health
coverage or pension.
Portability of policies to India is a
very unique and added advantage for all NRI’s.
We also recently launched a Group Life
Insurance Plan, suitable for different organizations, establishments, and associations.
The mobile app for LIC International is
available on IOS as well as on ANDROID platform.
A tabular Synopsis of a few
of our popular plans is given below:
Ideal plan for
Most popular and
Ideal plan to
A very unique plan
Ideal for those
our esteemed customers for their continued trust and support to our Company.
We are pleased to announce that an exclusive Term Assurance plan Healthee has been launched by the company on 4th April 2018. It s a non-profit pure term plan with an option to choose medical coverage and premium rates that differ depending on the life assured s health and habit choices. A few attractive features of this plan are: 1- It provides protection to the Life Assured s family through high... View more