Bsc magazine in hindiThe insurance
behemoth Life Insurance Corporation (LIC) of India paid 22,206.70 crto
the govt as surplus fbr the financial year 2017, which is 16 per cent over the
previous year. For the year ending Mar 2017, the Corporation had a surplus of 244,134 cr, which was an
increase of 16.14 per cent over 238,000 cr surplus in the previous reporting year.bsc daily current
affairs In FY16 the Corporation had also paid a
2500-cr onetime bonus to the govt, which is its owner. As per the LIC
Act, the Corporation has to distribute 95 per cent of its surplus to policyholders
as bonuses, the balance of 5 per cent amounting to 22,206.70 cr
was the share of the govt.bscacademy LIC, which
has completed 61 years of its incorporation, manages assets worth more than
225.72 to and had annual income of 24.92 to in the year gone by
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