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Topics / Economy

Insurance Sector

Asked 1 times in UPSC Prelims · first asked 2006 · last asked 2006

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Consider the following statements: 1. Life Insurance Corporation of India is the oldest insurance company in 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 Indian Insurance Company Limited are located at Chennai. Which of the statements given above are correct?

2006Economy
A1, 2 and 3
B1 and 2 only
C2 and 3 only
D1 and 3 only

Explanation

The correct statements are: 2 and 3 only. National Insurance Company Limited was nationalized in 1972 and became a subsidiary of General Insurance Corporation of India. The headquarters of United Indian Insurance Company Limited is located in Chennai.