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Life Insurance Corporation of India (LIC) is ….. Indian state-owned insurance group and Investment Company headquartered….. Mumbai. The Parliament of India passed the Life Insurance of India Act on 19 June 1956, ……. started operating in September of that year. ….. consolidated the business of 245 private life insurers and other entities offering life insurance services. The nationalisation of the life insurance business in India was a result of the Industrial Policy Resolution of 1956, which ……… created a policy framework for extending state control.

passed the Life Insurance of India Act on 19 June 1956,….. started

who

when

then

which

Explanation:

- Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment company headquartered in Mumbai.

- The Parliament of India passed the Life Insurance of India Act on 19 June 1956.

- LIC started operating in September of that year.

- The Act consolidated the business of 245 private life insurers and other entities offering life insurance services.

- The nationalisation of the life insurance business in India was a result of the Industrial Policy Resolution of 1956, which created a policy framework for extending state control.

Options Explanation:

- Option 1: who - Typically refers to a person. Not suitable for referring to an act.

- Option 2: when - Relates to time. Doesn't fit contextually in this sentence.

- Option 3: then - Refers to a sequence in time. Does not connect ideas correctly here.

- Option 4: which - Correct for introducing a clause providing additional information about the act.