Mumbai, Aug 14: LIC (International)EC, the offshore subsidiary of Life Insurance of Corporation of India catering to insurance needs of non-resident Indians in Gulf countries, is to shortly commence operations in the Sultante of Oman. An agreement was signed here appointing Gulf insurance agencies company LLC, Muscat, as the chief agent for marketing products in Oman, LIC said in a release here today and added that with presence in Oman, the company would now cover all the GCC countries.

It is also envisaged that the two companies would form a joint venture as early as possible with an objective of extending the life insurance services to Omani nationals as well.
The LIC subsidiary currently has operations in Bahrain, Saudi Arabia, Kuwait, Qatar and Dubai. Bureau Report