Page 49 - Insurance Times March 2023

Returns to Shareholders of Life Insurers insurers have offices in 596 districts covering 79 per cent of
all districts in the country. LIC and private insurers together
Three private life insurers viz. Bajaj Allianz Life Insurance
have covered 92 per cent of all districts in the country. All
Co. Ltd., SBI Life Insurance Co. Ltd. and Shriram Life
the districts were covered through life insurance offices in
Insurance Co. Ltd. paid interim dividend of Rs. 137.15 crore,
24 out of 36 states/UTs of the country.
Rs. 200.07 crore and Rs. 44.31 crore respectively for the FY
2021-22. LIC has not proposed to pay dividend to
The number of districts without a life insurance office stood
shareholder i.e. Government of India for the year 2021-22.
at 59 in the country, out of which 48 districts belong to the
north eastern states.
Dividend paid by Life Insurers
(Rs. Crore)
Offices of Life Insurers
Insurer 2020-21 2021-22
(Number of Offices)
LIC 0.00 0.00
Private Sector 615.35 381.53
Total 615.35 381.53
Note: Excludes dividend distribution tax

Offices of Life Insurers
The number of life insurance offices stood at 11,060 as on
March 31, 2022 same as previous year. Around 60 per cent
of life insurance offices are located in Tier I centers where
the population is one lakh and above. About 0.75 per cent
of life insurance offices are in Tier VI centers with a
population of less than 5,000.
Note: Tier I - Population 1,00,000 & Above
State/UT-wise distribution of life insurance offices are Tier II - Population of 50,000 to 99,999
provided in Statement 9.
Tier III - Population of 20,000 to 49,999
Tier IV - Population of 10,000 to 19,999
As at March 31, 2022, LIC of India has offices in 688 districts
Tier V - Population of 5,000 to 9,999
out of 750 districts in the country, covering 92 per cent of
all districts in the country, whereas the private sector Tier VI - Population less than 5,000

Conference on

‘Reimagining Paradigm Shift in Bangladesh Insurance Industry-
Bridging the Protection Gap.

Date: 20th March, 2023
Venue: Pan Pacific Sonargaon Hotel, 107 Kazi Nazrul Islam Ave, Dhaka 1215, Bangladesh

Organised by:
Professional Advancement Bangladesh
Birla Institute of Management Technology,(BIMTECH)

In association with
Bangladesh Insurance Association
Media Partner
The Insurance Times, Jounral, Kolkata, India

42 March 2023 The Insurance Times