LIC presents dividend cheque of Rs 1,831 crore to FM Sitharaman
LIC Chairman Siddhartha Mohanty presented the dividend cheque as the government's share of dividend in the presence of Department of Financial Services Additional Secretary MP Tangirala, the insurer said in a statement.
){kind=logo}
LIC Dividend: Life Insurance Corporation of India (LIC) on Thursday presented a dividend cheque of Rs 1,831.09 crore to Finance Minister Nirmala Sitharaman. LIC Chairman Siddhartha Mohanty presented the dividend cheque as the government's share of dividend in the presence of Department of Financial Services Additional Secretary MP Tangirala, the insurer said in a statement.
The dividend was approved by the shareholders in the annual general meeting held on August 22, it said.
LIC has completed 67 years since its incorporation and beginning with an initial capital of Rs 5 crore in 1956, LIC as of March 31, 2023, has an asset base of Rs 45.50 lakh crore with a life fund of Rs 40.81 lakh crore, it noted.
Despite two decades of opening up of the insurance sector, LIC continues to be the market leader in the Indian life insurance market, the statement claimed.
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
09:08 PM IST
6 blue-chip firms lose Rs 1.55 lakh crore mcap in a week; RIL worst hit
LIC gets GST demand notice of Rs 65 crore
Has your LIC policy lapsed due to non-payment of premiums? Here's what to do
LIC's digital transformation; sells over 1 million policies through Ananda App
SEBI grants LIC three more years to achieve 10% public shareholding