Life Insurance Corporation of India generated a valuation surplus of Rs 53,214.41 crore, registering a growth of 9.9 per cent over the previous year, Ministry of Finance stated.
Union Finance Minister Nirmala Sitharaman received a cheque of Rs 2,610.74 crore from MR Kumar, Chairman of LIC, as government's share of the surplus for financial year 2018-2019 here on Friday.
Finance Secretary Rajeev Kumar was also present.
LIC has a market share of 76.28 per cent in the number of policies and 71 per cent in first year premium as on November 30, 2019, the Ministry added.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app