Life Insurance Corporation of India (LIC) is an Indian state-owned insurance company headquartered in Mumbai. It is the largest insurance company in India with assets under management (AUM) of USD 511 billion on a standalone basis, which was more than 3.3 times the total AUM of all private life insurers in India and more than 1.1 times the entire Indian mutual fund industry\\\\\\\'s AUM. As of 2022, it had a total life fund of USD 451 billion with a claim settlement ratio of 98.76%. LIC has now been included in the Fortune 500 list of companies and is placed at number 98 on the list. With this ranking, LIC is the top-ranked Indian company on the Fortune 500 list.