LIC presents Rs 1,831.09 cr dividend cheque to FM
By: Dilip Kumar
9/16/2023 7:00:03 AM
LIC Chairman Siddhartha Mohanty on Thursday presented a dividend cheque of ₹1,831.09 crore from LIC to the Union Finance and Corporate Affairs, Minister Nirmala Sitharaman. This amount is the Centre’s share of dividend for 2022-23 and approved by LIC’s shareholders in the Annual General Meeting held on August 22 this year.
Dr. M P Tangirala, Additional Secretary, GOI, Ministry of Finance, Dept of Financial Services was present along with Officials from Life Insurance Corporation of India, M Jagannath, MD, Tablesh Pandey, MD, Sat Pal Bhanoo, MD, Shri R Doraiswamy, MD and J.P.S.Bajaj ,ZM(I/C),Northern Zone.
LIC has completed 67 years since its incorporation and beginning with an initial capital of Rs.5 crore in 1956, LIC as at 31.03.2023 has an asset base of Rs.45,50,571.73 Crore with life fund of Rs 40,81,326.41 Crore. Despite two decades of opening up of the insurance sector, LIC continues to be the market leader in the Indian Life Insurance market.