Life Insurance Corporation of India (LIC), the largest insurance organizations in the country is all set to open a representative office in Singapore next month.
According to the source, the upcoming office will initially explore opportunity for selling insurance products to the people of Indian origin.
Additionally, the insurance giant is also planning to expand its footprints into Australia and New Zealand. At present, LIC has international operations in seven countries - UK, Mauritius, Fiji, Nepal, Gulf, Saudi Arabia and Bahrain.
Recently, Life Insurance Corporation of India (LIC) International has begun selling policies to non-Indians in Bahrain, where it posted a growth of 46% in the first nine months of this year compared with the corresponding period last year.