Ms. Nirmala Sitharaman, Finance Minister, received a cheque of Rs. 2,610.74 crores from Mr. M.R. Kumar, Chairman, Life Insurance Corporation of India (LIC), as Government’s share of surplus for Financial Year 2018-2019. Mr. Rajeev Kumar, Finance Secretary, was also present. During the financial year, LIC generated a valuation surplus of Rs. 53,214.41 crores, registering a growth of 9.9% over the previous year. It has a market share of 76.28% in number of policies and 71% in First Year Premium as on 30.11.2019.