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Insurance
30-Aug-24
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Life Insurance Corporation handover Rs 3,662 crore Dividend cheque to Government
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State-owned Life Insurance Corporation (LIC) on Thursday handed over a dividend cheque of Rs 3,662.17 crore to the central government.
This cheque was presented by LIC Chief Executive Officer & Managing Director Siddhartha Mohanty to Finance Minister Nirmala Sitharaman as the government’s share of dividend in the presence of M P Tangirala, Additional Secretary, Ministry of Finance along with senior Life Insurance Company officials M Jagannath, Tablesh Pandey, Sat Pal Bhanoo, R Doraiswamy, and JPS Bajaj.
The payout was approved by the state-run life insurance company’s annual general meeting on August 22.
The development marked the company's second dividend payout to the government within six months.
LIC also paid an interim dividend of Rs 2,441.45 crore on March 1, 2024, thus totaling Rs 6,103.62 crore dividend paid to the Centre for the year 2023-24.
LIC, which completed 68 years since its incorporation, has an asset base of over Rs 52.9 lakh crore.
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