LIC pays Rs 2,610.7 cr as FY19 dividend to government
27-December-2019
The Life Insurance Corporation of India (LIC) on Friday paid a dividend of Rs 2,610.74 crore for the financial year 2018-19 to the government
In a tweet, the Finance Ministry said: "Union Finance Minister @nsitharaman receives a cheque of Rs 2,610.74 crores from M.R. Kumar, Chairman of LIC, as government's share of surplus for Financial Year 2018-2019 here today. Rajeev Kumar, Finance Secretary, was also present."
Another tweet by the ministry said that in the last fiscal, LIC generated a valuation surplus of Rs 53,214.41 crore, with an annual growth of 9.9 per cent.
"...It has a market share of 76.28 per cent in number of policies and 71 per cent in First year Premium as on 30.11.2019," it said.
The state-run insurer had expanded its annual surplus by 10.1 percent to Rs 48,444.82 crore in fiscal year 2017-2018 and had paid Rs 2,430.19 crore as the government's share in FY18.IANS
Tamil Nadu Issues Public Advisory as Viral Fever Cases Rise; Masks Urged in Crowded Areas
KCR’s Daughter Kavitha Suspended from BRS Amid Family Rift and Power Struggle
PM Modi Condemns Abuse of His Late Mother at Bihar Rally, Calls It Insult to All Mothers
Indian Army Joins US Troops in Alaska for Yudh Abhyas 2025 Military Exercise
TN, Puducherry Brace for Rain and Strong Winds, IMD Warning for Coastal Areas