New Delhi, Dec 27 (SocialNews.XYZ) 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.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz