Shri R. Doraiswamy, CEO & MD, LIC of India hands over the dividend cheque to Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs
Life Insurance Corporation of India handed over a dividend cheque of ₹7,324.34 crore to the Government of India on Thursday, representing the Centre’s share of profits approved by shareholders at the company’s annual general meeting (AGM) held on August 26.
LIC CEO and Managing Director R Doraiswamy presented the dividend cheque to Union Finance Minister Nirmala Sitharaman at a ceremony attended by senior officials from both the insurance giant and the Ministry of Finance. The government’s dividend represents its stake in the State-owned insurer following LIC’s public listing in 2022.
The dividend payment comes as LIC completes 69 years since its incorporation. The insurance behemoth reported total assets of ₹56.23 lakh crore as of March 31, 2025, reinforcing its position as India’s largest life insurer by market share.
Present at the dividend presentation ceremony were Nagaraju M, Secretary of the Department of Financial Services and Parshant Kumar Goyal, Joint Secretary at the same department. LIC was represented by Managing Directors Sat Pal Bhanoo, Dinesh Pant and Ratnakar Patnaik, along with Zonal Manager JPS Bajaj.
The substantial dividend payment underscores LIC’s continued profitability and its significant contribution to government revenues. Despite increased competition in India’s life insurance sector, LIC maintains its dominant market position through its extensive distribution network and brand recognition built over nearly seven decades of operations.
Published on August 29, 2025
