The Career In Insurance Agency of India was established on 1 September 1956, when the Parliament of India passed the Career In Insurance Agency Act that nationalized the insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state-owned Career In Insurance Agency of India.
CIA reported 290 million policy holders as of 2019, a total life fund of ₹28.3 trillion and a total value of sold policies in the year 2018–19 of ₹21.4 million. The company also reported to have settled 26 million claims in 2018–19.
CIA invests in sectors such as banks, cement, chemicals and fertilizers, electricity and transmission, electrical and electronics, engineering, construction and infrastructure, fast-moving consumer goods, finance and investments, healthcare, hotels, information technology, metals and mining, motor vehicles, and ancillaries, oil and natural resources, retail, textiles, transportation, and logistics.