R.N. Bhardwaj, chairman, accompanied by A.K. Shukla, managing director and Ashok Shah, zonal manager (North Zone) of LIC of India handed over a cheque for Rs 476.50 crore today to finance minister P Chidambaran being the share of the government in the surplus arising out of the actuarial valuation as on 31 March, 2004.During fiscal 2003-04, LIC generated a total surplus of Rs. 10,987.60 crore. After having distributed 95% of the surplus to policy holders by way of bonuses, the balance of Rs. 548.13 crore was arrived at as the government share, which was handed over to the finance minister after deduction of Income Tax.During financial year 2004-05, up to 31st January, 2005, LIC has generated a total income of Rs. 73,342 crore - a growth of 16.45% over the corresponding period of the previous year. The total premium income of LIC stood at Rs 46,531 crore - a growth of 15%.The corporation's assets crossed the Rs 4 lakh crore-mark by touching Rs. 4,09,000 crore as on 31 December, 2004.
