LIC pays Rs 2,610.74 crore dividend to govt
New Delhi: MR Kumar, Chairman, LIC of India, on Monday presented the dividend cheque of Rs 2,610.74 crore to Nirmala Sitharaman, 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 53,214.41 Crore, registering a growth of around 9.9 per cent over the previous year. This is for the first time in LIC’s history that valuation surplus has crossed Rs 50,000 Crore.
Rajiv Kumar, Secretary (Finance), Debasish Panda, Special Secretary (Insurance & FI) were present along with officials from Life Insurance Corporation of India, TC Suseel Kumar, MD, Vipin Anand, MD, Mukesh Kumar Gupta, MD and 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 Rs 1.63 lakh crore. LIC’s market share is 76.28 per cent in number of policies and 71 per cent in first year premium as on 30th November 2019.
CLW organises event ON 70 GLORIOUS YEARS
Chittaranjan: A two-day inter unit competition was organised by Chittaranjan Locomotive Works Bharat Scout and Guide District Unit from 29 December to 30 December 2019 by members of Scouts and Guides, Rovers and Rangers to commemorate the completion of “70 glorious years” of Chittaranjan Locomotive Works (CLW). The program concluded on Monday. Ram Prakash, PCEE, CLW visited various camps set up by the teams as a chief guest on this occasion, More than one hundred and fifty comprising both senior and junior members took part in the program organised at Scout Den of Rail City. On this occasion, camp construction, their skills and structural development and capacity were demonstrated by the members.
