Shri M.R.Kumar, Chairman, LIC of India, today presented the Dividend cheque of Rs.2610.74 Crore to Ms.Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs, as the Government of India’s share of the surplus arising out of LIC’s Actuarial Valuation as at 31.3.2019.

 

During the fiscal 2018-19, LIC generated a total Valuation Surplus of Rs. 53214.41 Crore, registering a growth of around 9.9% over the previous year. This is for the first time in LIC’s history that Valuation surplus has crossed Rs 50,000 Crore.

Shri Rajiv Kumar, Secretary (Finance), Shri Debasish Panda, Special Secretary(Insurance & FI ) were present along with Officials from Life Insurance Corporation of India, Shri T.C.Suseel Kumar, MD, Shri Vipin Anand, MD, Sri Mukesh Kumar Gupta, MD and Shri Raj Kumar, MD.

LIC has completed 63 years since its incorporation and now manages Assets worth more than Rs.31.11 lakh Crore. It had Annual Income of Rs.5.61 lakh Crore and achieved the highest ever First Year Premium Income of Rs 1, 42,191.69 Crore in the year 2018-19. During the year 2018-19, it has paid 2 Crore 59 lakh claims for an amount of Rs1.63 lakh Crore.

LIC’s market share is 76.28 % in number of Policies and 71% in First year premium as on 30^th Nov 2019.

Dated at Mumbai on the 27^th December, 2019

For further Information please contact:

Executive Director (CC)

LIC of India, Central Office, Mumbai.

Telephone: 022 22028307, Email id: ed_cc@licindia.com, Visit us at www.licindia.in