Signing of MoU between GRIHA Council and LIC

News and Updates > Signing of MoU between GRIHA Council and LIC
GRIHA Council
Mar 2 2023

Signing of MoU between

During the 14th GRIHA Summit in New Delhi – in the presence of H.E. Dr. Ralf Heckner, Ambassador, Embassy of Switzerland in New Delhi, India; Dr. Vibha Dhawan, President, GRIHA Council and Director General, TERI, GRIHA Council & Life Insurance Corporation of India on 16th December 2022 signed a Memoranda of Understanding (MoU) to initiate the green building certification of LIC owned buildings in the county. This would include rating of 2000 existing buildings of LIC on the parameters of GRIHA Existing Building rating system, additionally the upcoming buildings of LIC in the country shall be certified under the GRIHA rating system. This MoU also ensures training and capacity building of LIC officials on sustainable building design, operation & maintenance of green buildings.

LIC is the first Indian central public sector undertaking in India to lead the initiative of transforming its existing and to-be built infrastructure at a large scale by committing existing and upcoming structures to be green certified, training its officials to evaluate building performance. LIC is a state-owned corporation where the Government of India has 96.5% stake. It was founded in 1956 with the merger of 170 insurance companies and 75 provident societies. LIC currently has 8 Zonal Offices and 113 Divisional offices located in different parts of India, around 4900 servicing offices including 2048 branches. LIC has the distinction of being one of the largest financial institutions in India. As per Brand Finance Insurance 100 Report for 2021, LIC is ranked as the 3 rd Strongest and 10 th most valuable brand, in the world. From being a Life insurer of every Indian, LIC has transformed into a Trans-nationally Competitive Financial Conglomerate of significance to societies and Pride of India.In 2021-22, LIC has won 24 Awards. The notable ones being Reader;s Digest Trusted Brand Category Insurance (Life); National Awards for Excellence in BFSI in three categories namely Insurance Company of the Year, Digital Marketing Digital Advertising Award and Claim Service Leader; FICCI Insurance Industry Award in two categories- Special Jury Award and Best Insurance Campaign –Life Category, World BFSI Congress & Awards in 5 categories namely-Insurance Company of the year, Customer Service Excellence Award, Excellence in Claim Service, Technology Initiative of the Year ‘Jeevan Sakshya’ and Operations excellence Initiative of the year ‘ANANDA’.