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LIC pays Rs 2,611 crore dividend to govt in FY19

NEW DELHI: State-owned
LIC on Friday paid a dividend of Rs 2,610.74 crore to the government for financial year 2018-19.

“During the Financial Year 2018-2019,
LIC generated a valuation surplus of Rs 53,214.41 crore, registering a growth of 9.9% over the previous year. It has a market share of 76.28% in number of policies and 71% in First year Premium as on 30.11.2019,” the finance ministry said in a tweet.

LIC Chairman M R Kumar handed over the cheque to Finance Minister Nirmala Sitharaman in presence of Finance Secretary Rajiv Kumar and Special Secretary Debasish Panda.

“Union Finance Minister Smt. @nsitharaman receives a cheque of Rs 2,610.74 Crores from Shri M.R. Kumar, Chairman of
LIC, as Government’s share of surplus for Financial Year 2018-2019 here today. Shri Rajeev Kumar, Finance Secretary, was also present,” the ministry said.

Source: Economic Times