New Delhi: Country's largest insurer Life Insurance Corporation of India (LIC) has paid 1,137.99 crore to the Government of India as dividend for 2010-11. The dividend cheque was handed over by LIC current-in- charge Chairman D K Mehrotra to the Finance Minister Pranab Mukherjee yesterday, the state-owned insurer said in a statement today. LIC had declared a valuation surplus of 22,752.71 crore for the financial year ending 2011. This surplus was arrived at, after the annual actuarial valuation was done and all liabilities were accounted, it said. The balance amount of 21,614.72 crore would be ploughed back to the policyholders as bonus, it added. For the 2010-11, it said, LIC has received a total premium income of 2,03,358 crore as against 1,85,986 crore in the previous showing a growth rate of 9.34 per cent, it said. The total life fund of LIC stood at 11,51,200.58 crore as against 9,99,517.59 crore in the previous year. The total assets of the company rose to 13,17,416 crore from 11,52,057.21 crore in the previous year. During 2010-11, LIC settled more than 1.89 crore claims for an aggregate amount of over 57,557 crore. The ratio of claims outstanding at the end of the year to the total claims payable during the year stood at 1.20 per cent.