Winning Bizness Desk

Mumbai. The country's largest and oldest insurance company, Life Insurance Corporation of India's (LIC) is the largest insurance company in India, which has the asset, even our three neighbouring countries namely Sri Lanka, Pakistan and Nepal. Even if the GDP of India's neighboring countries Pakistan, Nepal and Sri Lanka are combined, it is not equal to the total assets of state-owned enterprises in our country. Life Insurance Corporation of India (LIC) has more assets under management (AUM) than India's three neighboring countries. The company's AUM has grown by 16.48 percent year-on-year to $616 billion or Rs 51,21,887 crore. Last financial year it was around Rs 43,97,205 crore. It is the 7th largest company in the country in terms of market capitalisation. The current market capitalization of the company has crossed 6.46 lakh crores.

LIC's assets are more than the GDP of three countries

According to the information, LIC's assets are more than the combined GDP of India's three neighboring countries. It is more than three countries Pakistan, Nepal and Sri Lanka. Pakistan's GDP currently stands at $338 billion. The GDP of Nepal is about 44.18 billion dollars. While the GDP of Sri Lanka is around 74.85 billion dollars. In that case, even if the GDP of these three countries is added it is nowhere near the total assets of LIC. Meanwhile, LIC has recently announced its results for the quarter from January to March. The company's net profit rose by 2.50 percent in the quarter ended March. Currently, LIC's profit stands at Rs 13,762 crore. The company had made a profit of Rs 13,421 crore in the same quarter last year. A reduction has also been recorded in the company's NPAs. It has reached 2.01 percent as against 2.56 percent last year.

Dividend of Rs 4 per share to the shareholders

An increase in the company's profits is comforting news for investors. Because, LIC has declared dividend to the shareholders. The company has given a dividend of Rs 4 per share to the shareholders. The largest shareholder in the company is the government which owns 96.50 percent stake in LIC. In such a scenario, the government will get Rs 3662 crore as dividend from the company.