LIC hands over ₹7,324 crore dividend cheque to Government of India

Life Insurance Corporation of India (LIC) on Friday (August 29) handed over a dividend cheque of ₹7,324.34 crore to the Government of India for the financial year 2024–25.

R Doraiswamy, CEO and Managing Director of LIC, presented the cheque to Union Finance Minister and Corporate Affairs Minister Nirmala Sitharaman.

The dividend amount represents the government’s share, as approved by shareholders during LIC’s Annual General Meeting held on August 26.

Senior officials from the Ministry of Finance, including Nagaraju M, Secretary, Department of Financial Services, and Parshant Kumar Goyal, Joint Secretary, were present at the occasion. From LIC, Managing Directors Sat Pal Bhanoo, Dinesh Pant, Ratnakar Patnaik, and J P S Bajaj, Zonal Manager (In-charge), Northern Zone, also attended.

LIC, which is completing 69 years since its incorporation, reported an asset base of ₹56.23 lakh crore as of March 31, 2025.

ALSO READ | Equity mutual fund AUM jumps 335% in 5 years to ₹33 lakh crore: ICRA Analytics