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Empowering NRIs with long-term financial security
LIC International CEO Debashis Prasad Pattanaik on 36 years of trust in the GCC, growth through market volatility, and the role of technology in serving the Indian diaspora
- PUBLISHED: Mon 26 Jan 2026, 11:45 AM
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Since 1989, LIC International has been supporting non-resident Indians with insurance and savings solutions designed for long-term financial security. In this special Republic Day interaction, Debashis Prasad Pattanaik, CEO and Executive Director of LIC International BSC, shares insights on the company’s journey in the GCC, its growth in 2025 despite market volatility, and the role of trust and technology in serving the Indian diaspora.
Please tell us about the operations of LIC International in the UAE and its overseas presence.
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LIC International began its operations in the GCC in 1989 with a clear objective: to provide Non-Resident Indians with reliable, long-term financial solutions in US dollar terms. Over the past 36 years, we have built a strong and respected presence across the GCC, including the UAE, by focusing on life protection, savings, and retirement planning tailored to expatriate lifestyles. Our guiding principle has always been simple and consistent to help families remain financially secure, no matter where life or career opportunities take them.
What makes the UAE a key market within the GCC for LIC International?
The UAE is home to one of the largest and most vibrant Indian communities outside India. It is also a global financial centre known for strong regulation, transparency, and rapid digital adoption. For LIC International, the UAE represents trust, scale, and long-term opportunity. Policies issued here are denominated in US dollars, enabling customers to plan confidently for education, retirement, and legacy goals without concerns around currency fluctuations.
The year 2025 was a volatile year for global markets. How did LIC International sustain growth in new business during such conditions?
Market volatility tests patience and discipline. In 2025, our strategy focused on long-term thinking rather than reacting to short-term market movements. We positioned our Unit Linked Insurance Plans (ULIPs) around sound asset allocation aligned with customer risk profiles and life stages. Policyholders were encouraged to stay invested, review their allocations periodically, and avoid emotional decision-making. This approach allowed us to achieve sustainable growth even amid uncertain market conditions.
ULIPs combine life protection with market-linked growth potential. For NRIs, this means building wealth in US dollars while enjoying insurance coverage. Over time, this structure supports key goals such as children’s overseas education, retirement planning in India or abroad, and smooth wealth transfer to the next generation.
What role did digital innovation play in 2025?
Digital innovation made financial planning more accessible and transparent. During 2025, we enhanced digital onboarding, online policy servicing, fund performance tracking, and customer communication. This enabled policyholders to manage their policies from anywhere in the world. Going forward, we are strengthening our digital infrastructure through the use of AI to further simplify access to products and services. For us, technology strengthens relationships by improving clarity, speed, and reliability.
How do you foresee social media helping current and prospective policyholders?
Social media has become a powerful medium for education and engagement. In the insurance sector, it helps customers better understand products and make informed decisions. We are adopting structured social media initiatives to reach the right audiences, promote financial awareness, and connect with younger NRIs who prefer digital-first communication.
Trust is often associated with LIC. Why does it matter so much to NRIs?
NRIs plan across countries, regulations, and currencies. They seek institutions that will honour commitments decades into the future. LIC International’s 36-year overseas legacy provides that confidence. Trust is earned through consistency, transparent processes, and dependable service—it cannot be built overnight.
Wishes for the republic Day
“On this proud occasion, I extend warm Republic Day greetings to all Indians living in the UAE and across the world. Let us reaffirm our commitment to our motherland by contributing positively wherever we are, preserving India’s rich heritage, and working towards a stronger future for generations to come. Jai Hind."
