407: Consider the following statements :
1. Life Insurance Corporation of India is the oldest insurance company is India.
2. National Insurance Company Limited was nationalized in the year 1972 and made a subsidiary of General Insurance Corporation of
India.
3. Headquarters of United India Insurance Company Limited are located at Chennai.
Which of the statements given above are correct?
(a) 1 and 2, only
(b) 1 and 3, only
(c) 2 and 3, only
(d) 1, 2 and 3
Explanation:
Oriental Life Insurance Company was established in 1818 at Calcutta by a British firm. The Life Insurance Corporation was formed by an act passed by Parliament on September 1, 1956 with a capital of Rs. 5 crore given by the Government of India.