Consider the following statements: 1. Life Insurance Corporation of India is the oldest insurance company is India. 2. National Insurance Company Limited was nationalized in the year 1972 and made a subsidiary of General Insurance Corporation of India. 3. Headquarters of United India Insurance Company Limited are located at Chennai. Which of the statements given above are correct?

The correct option is C because of the following reasons: Statement 1 is incorrect. The oldest insurance company in India was the Oriental Life Insurance Company, established in 1818 in Kolkata. Life Insurance Corporation of India (LIC) was formed much later, in 1956, by merging over 240 insurance companies. Statement 2 is correct. The National Insurance Company Limited was one of the many companies nationalized under the General Insurance Business (Nationalisation) Act of 1972. It was subsequently made a subsidiary of the General Insurance Corporation of India (GIC). Statement 3 is correct. The headquarters of United India Insurance Company Limited are indeed located in Chennai, Tamil Nadu. Since statements 2 and 3 are correct and statement 1 is false, the answer is C.