Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of ₹2,529,390 crore (US$370 billion)(2016). As of 2013 it had total life fund of Rs.1433103.14 crore and total number of policies sold coming in at 367.82 lakh that year (2012-13) The Life Insurance Corporation of India was founded in 1956.