Kolkata, April 4 -- The Life Insurance Corporation of India (LIC) has taken note of the USTR's recent remarks regarding the favourable treatment extended to LIC by the Government of India. " LIC wishes to clarify that LIC is treated like any other insurance company by the Government and Regulators. The guarantee-provided at the time of its establishment in 1956-is a statutory provision designed to build public confidence in the early years of nationalisation. It has never been invoked or used as a marketing tool or provided any undue advantage to LIC, " a media release issued by the insurance behemoth. For the past 25 years, LIC has operated in a fully competitive market alongside 24 private life insurance companies. It is regulated by IRDA...