Excelsior Correspondent
JAMMU, Dec 16: Chairman, LIC of India SK Roy presented a cheque of Rs 1634.89 crore to Arun Jaitley, Union Finance Minister as the Government of India’s share of the surplus arising out of the actuarial valuation as on March 31, 2014.
During the fiscal 2013-14, LIC generated a total surplus of Rs 32685.21 crore. After distributing 95 per cent of the surplus to policy holders as bonuses, the balance of 5 per cent amounting to Rs 1634.89 crore was the share of the Government.
LIC has registered a growth of 13.80 per cent in generation of surplus in comparison to last year’s amount of Rs 28727.64 crore.
Rajiv Mehrishi, Finance Secretary, Department of Economic Affairs, Ministry of Finance along with Dr Hasmukh Adhia, Secretary, Department of Financial Services, Ministry of Finance were also present.
Officials from LIC of India SB Mainak MD, VK Sharma MD, Usha Sangwan MD, TT Kabui Zonal Manager, North Zone and Sat Pal Bhanoo Regional Manager (Corporate Communications), North Zone were also present.
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