Mumbai, August 7th, 2025: The Board of Directors of Life Insurance Corporation of
India (“LIC”) approved and adopted the standalone and consolidated financial results
for the quarter ending June 30th, 2025. Below are the key highlights of our standalone
results.
The Profit after Tax (PAT) for the quarter ended June 30th, 2025 was Rs. 10,986 crore as
compared to Rs. 10,461 crore for the quarter ended June 30th, 2024 registering a growth of
5.02%.
In terms of market share measured by First Year Premium Income (FYPI) (as per IRDAI),
LIC continues to be the market leader in Indian life insurance business with overall market
share of 63.51%. For the quarter ended June 30th, 2025, LIC had a market share of 38.76%
in Individual business and 76.54% in the Group business.
The Total Premium Income for quarter ended June 30th, 2025 was Rs. 1,19,200 crore as
compared to Rs. 1,13,770 crore for the quarter ended June 30th 2024, registering a growth
of 4.77%. The Total Individual Business Premium for the quarter ended June 30th, 2025
increased to Rs. 71,474 crore from Rs. 67,192 crore for the comparable period of previous
year, showing an increase of 6.37%. The Group Business total premium income for quarter
ended June 30th, 2025 was Rs. 47,726 crores as compared to Rs 46,578 crore for the quarter
ended June 30th 2024, showing an increase of 2.46%.
A total of 30,39,709 policies were sold in the individual segment during the quarter ended June
30th, 2025 as compared to 35,65,519 policies sold during the quarter ended June 30th 2024
registering a decline of 14.75%.On an Annualized Premium Equivalent (APE) basis, the total premium was Rs. 12,652
crore for the quarter ended June 30th, 2025. Of this 55.81% (Rs. 7,061 crore) was
accounted for by the Individual Business and 44.18% (Rs. 5,590 crore) by the Group
Business. Within the Individual Business, the share of Par products on APE basis was 69.66%
(Rs. 4,919 crore) and balance 30.34% (Rs. 2,142 crore) was due to Non Par products.
The Non Par APE has increased from Rs. 1,615 crore for the quarter ended June 30th, 2024
to Rs. 2,142 crore for the quarter ended June 30th, 2025 registering a growth of 32.63% .
Therefore, on an APE basis, our Non Par share of Individual business, which was 23.94%
for the quarter ended June 30th, 2024 has grown to 30.34% for the quarter ended June
30th, 2025.
The Value of New Business (VNB) for the quarter ended June 30th, 2025 was Rs. 1,944 crore
as compared to Rs. 1,610 crore for the quarter ended June 30th, 2024, registering a growth
of 20.75%. The net VNB margin for the quarter ended June 30th, 2025 increased by 150 bps to
15.4% as compared to 13.9% for the quarter ended June 30th, 2024.
The Solvency Ratio as on June 30th, 2025 increased to 2.17 as against 1.99 on June
30th, 2024.
For the quarter ended June 30th, 2025, the persistency ratios on premium basis for the
13th month and 61st month were 75.63% and 63.85%, respectively. The comparable
persistency ratios for the corresponding quarter ended June 30th, 2024 were 78.23% and
61.62%, respectively.
For the quarter ended June 30th, 2025, the persistency ratios on number of policies basis
for the 13th month and 61st month were 64.35% and 51.12%, respectively. The comparable
persistency ratios for the corresponding period ended June 30th, 2024 were 67.81% and
49.39%, respectively.
The Assets Under Management (AUM) increased to Rs. 57,05,341 crore as on June 30th
,
2025 as compared to Rs. 53,58,781 crore on June 30th, 2024 registering an increase of 6.47%
year on year.
The Overall Expense Ratio for the quarter ended June 30th, 2025 was 10.47% as compared
to 11.87% for the quarter ended June 30th 2024, registering a decrease of 140 bps.
The Yield on Investments on policyholders funds excluding unrealized gains was 8.45%
for the quarter ended June 30th, 2025 as against 8.54% for quarter ended June 30th
,
2024.
Shri R Doraiswamy, CEO & MD, LIC said :–
“During the first quarter of this financial year, our overall market share by First Year Premium
Income was 63.51% and we maintained our leadership in both Individual and Group
Business. Key elements of our strategy like increase in Non Par share in Individual business,
increase in VNB margin, increase in Banca share are fully on track. The share of Non Par
products within Individual segment, on an APE basis, has increased to 30.34% in the first
quarter of FY26 as compared to 23.94% for the same quarter last year. VNB margin has
increased by 150 bps to 15.4% on Year on Year basis, while our expense ratio has declined
by 140 bps to 10.47% in this quarter. Our channel mix diversification strategy is visible with
the increased share of bancassurance and alternate channels. As at 30th June 2025, more
than 1.99 lakh women have been appointed as Bima Sakhis who have sold more than 3.26
lakh policies during the first quarter of FY26. We look forward to working with the regulatory
authorities and various State and District Level Insurance Committees to further increase life
insurance penetration in our country. We are focused on launching new products to meet
customer needs and further enhancing our customer outreach.”Sr.
No.
Particulars Quarter ended
June 30th, 2024
(Rs in crore)
Quarter ended
June 30th, 2025
(Rs in crore)
YoY
Growth
%age
1 Profit after Tax (PAT) 10,461 10,986 5.02%
2 New Business Premium
Income (Individual)
11,892 12,536 5.42%
3 Renewal Premium (Individual) 55,300 58,938 6.58%
4 Total Premium (Individual) 67,192 71,474 6.37%
5 Total Group Business Premium 46,578 47,726 2.46%
6 Total Premium Income 1,13,770 1,19,200 4.77%
7 Number of Policies sold
(Individual)
35,65,519 30,39,709 (14.75%)
8 Value of New Business (Net) 1,610 1,944 20.75%
9 Assets Under Management 53,58,781 57,05,341 6.47%
10 VNB Margin (Net) 13.9% 15.4% Increase by
150 bps
11 Overall Expense Ratio 11.87% 10.47% Decrease by
140 bps
12 Solvency Ratio 1.99 2.17
13 13 M/ 61 M Persistency
(Premium Basis)
78.23% / 61.62% 75.63% / 63.85%
14 13 M/ 61 M Persistency
(Number of Policies Basis)
67.81% / 49.39% 64.35% / 51.12%
15 Individual Business APE 6,747 7,061 4.65%
16 Group Business APE 4,813 5,590 16.14%
17 Total APE (Ind + Group) * 11,560 12,652 9.45%
18 Ind APE Product Mix (%) (Par/
Non Par incl Linked)
76.06% / 23.94% 69.66% / 30.34%
Key Operational and Financial metrics:
1 Profit after Tax (PAT) 10,461 10,986 5.02%
Income (Individual)
3 Renewal Premium (Individual) 55,300 58,938 6.58%
4 Total Premium (Individual) 67,192 71,474 6.37%
5 Total Group Business Premium 46,578 47,726 2.46%
6 Total Premium Income 1,13,770 1,19,200 4.77%
(Individual)
8 Value of New Business (Net) 1,610 1,944 20.75%
9 Assets Under Management 53,58,781 57,05,341 6.47%
10 VNB Margin (Net) 13.9% 15.4% Increase by
15 Individual Business APE 6,747 7,061 4.65%
16 Group Business APE 4,813 5,590 16.14%
17 Total APE (Ind + Group) * 11,560 12,652 9.45%
* Figures may not add up to total due to rounding off.
N o t e : – For detailed information on financials, please refer standalone Financial Results
for the quarter ended June 30th 2025 and accompanying Notes which are uploaded on the
Stock Exchanges and the Corporation’s websites.
Dated at Mumbai on August 7th, 2025