Question

Which of the following is a public sector insurance company?

Options

• Life Insurance Corporation of India

• HDFC Life Insurance

• ICICI Prudential Life Insurance

• Both Life Insurance Corporation of India and ICICI Prudential Life Insurance

Answer 1

Life Insurance Corporation of India

Explanation:

Life Insurance Corporation of India (LIC) is the sole public sector company in the life insurance industry in India. The other companies, such as HDFC Life Insurance and ICICI Prudential Life Insurance, are private-sector companies. Public sector insurance companies are owned and operated by the government, while private sector companies are owned by private entities.