<p>Life Insurance Corporation of India (LIC) on Thursday presented a dividend cheque of Rs 1,831.09 crore to Finance Minister Nirmala Sitharaman.</p>.<p>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 MP Tangirala, the insurer said in a statement.</p>.LIC sells over 2% stake in Sun Pharma for Rs 4,699 crore.<p>The dividend was approved by the shareholders in the annual general meeting held on August 22, it said.</p>.<p>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.</p>.<p>Despite two decades of opening up of the insurance sector, LIC continues to be the market leader in the Indian life insurance market, the statement claimed.</p>
<p>Life Insurance Corporation of India (LIC) on Thursday presented a dividend cheque of Rs 1,831.09 crore to Finance Minister Nirmala Sitharaman.</p>.<p>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 MP Tangirala, the insurer said in a statement.</p>.LIC sells over 2% stake in Sun Pharma for Rs 4,699 crore.<p>The dividend was approved by the shareholders in the annual general meeting held on August 22, it said.</p>.<p>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.</p>.<p>Despite two decades of opening up of the insurance sector, LIC continues to be the market leader in the Indian life insurance market, the statement claimed.</p>