LIC hands over ₹1,831.09 cr. dividend cheque to Finance Minister
The Hindu
LIC of India paid ₹1,831.09 crore dividend to Centre for 2022-23. Chairperson Siddhartha Mohanty handed cheque to Union Finance Minister Nirmala Sitharaman. LIC's asset base stands at ₹45,50,571.73 crore with life fund of ₹40,81,326.41 crore. LIC is market leader in Indian life insurance market. Additional Secretary to Centre's Department of Financial Services present at cheque handover.
The Life Insurance Corporation of India (LIC) on Thursday paid a dividend of ₹1,831.09 crore to the Centre for 2022-23.
Chairperson Siddhartha Mohanty handed over the dividend cheque to Union Finance Minister Nirmala Sitharaman. This was the Government of India’s share of dividend and had been approved by shareholders at the AGM last month, LIC said in a release.
As on March 31, LIC’s asset base stood at ₹45,50,571.73 crore with life fund of ₹40,81,326.41 crore. LIC said it continued to be the market leader in the Indian life insurance market even two decades after opening up of the insurance sector.
Additional Secretary to the Centre’s Department of Financial Services, along with LIC’s managing directors M. Jagannath, Tablesh Pandey, Sat Pal Bhanoo and R. Doraiswamy and ZM (I/C) of Northern Zone J.P.S. Bajaj were present when the cheque was handed over.
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