- Government will get Rs 3,662 crore as dividends from LIC.
- A dividend of Rs 3,662 crore will be paid by State-owned Life Insurance Corporation of India (LIC) to the Government of India, which is the largest shareholder in the company.
- On May 27, the public insurer announced a final dividend of Rs 6 per share for the financial year ending March 31, 2024.
- LIC reported a net profit of Rs 13,782 crore for the quarter ended March 31, 2024, up 4.5% from Rs 13,191 crore reported in the same period last fiscal.
- The government currently holds 96.50% stake in the company, amounting to 6,10,36,22,781 shares out of 6,32,49,97,701 fully paid-up equity shares.
- In first-year premium income (FYPI), LIC remains the market leader in the Indian life insurance business with an overall market share of 58.87%..
| Category | March 31, 2024 | March 31, 2023 |
| Total Premium Income | 4,75,070 crore | 4,74,005 crore |
| Total Individual Business Premium | 3,03,768 crore | 2,92,763 crore |
| Group Business total Premium | 1,71,302 crore | 1,81,242 crore |
| Assets Under Management (AUM) | 51,21,887 crore | 43,97,205 crore |
| Policies Sold (Individual Segment) | 2,03,92,973 | 2,04,28,937 |
| Value of New Business (VNB) | 9,583 crore | 9,156 crore |
| Net VNB Margin | 16.80% | 16.20% |