LIC Lanka Ltd. (LIC Lanka) is a joint venture of LIC of India (LIC) and the Bartleet Group of Sri Lanka. LIC of India is India’s and the world’s leading life insurance provider. LIC is fully owned by the Government of India, set up in 1956 by an Act of the Indian Parliament. LIC has Grown from a mere 5 crore capital in 1956 to its present stature boasting of an asset base of 48,350 billion US Dollars, higher than the GDP of over 75% of the countries in the world (only 4 countries have a population higher than LIC’s customers). LIC commands a market share of 72% in India and is awarded the most trusted service brand, the most recognizable brand for the 7th year in succession. LIC has been the most awarded life insurer in the Indian financial services arena.