LIC pays Rs 2,611 crore dividend to Centre

New Delhi: State-owned Life Insurance Corporation on Friday paid a dividend of Rs 2,610.74 crore to the government for financial year 2018-19.

"During the Financial Year 2018-2019, LIC generated a valuation surplus of Rs 53,214.41 crore, registering a growth of 9.9 per cent over the previous year.

It has a market share of 76.28 per cent in number of policies and 71 per cent in First year Premium as on 30.11.2019," the finance ministry said in a tweet.

This is for the first time in LIC's history that valuation surplus has crossed Rs 50,000 crore, the insurer said in a statement.