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State owned LIC pays Rs 2,611 crore dividend to government for 2018 19

State-owned LIC pays Rs 2,611 crore dividend to government for 2018-19

State-owned LIC pays Rs 2,611 crore dividend to government for 2018-19
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By PTI Dec 27, 2019 8:30:07 PM IST (Updated)

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

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

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"During the financial year 2018-2019, LIC generated a valuation surplus of Rs 53,214.41 crore, registering a growth of 9.9 percent over the previous year. It has a market share of 76.28 percent in the number of policies and 71 percent in the 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 union 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.
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