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 MPTangirala, the insurer said. 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.