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Life Insurance Corporation of India Results: Latest Quarterly Results & Analysis

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Life Insurance Corporation of India 06 Aug 2026 17:43 PM
Result PDF

Q1FY27 Quarterly Result Announced for Life Insurance Corporation of India

Life Insurance Corporation of India announced Q1FY27 results

Consolidated Financial Highlights:

  • Net Profit: Consolidated Net Profit for Q1FY27 was Rs 13,584.25 crore, reflecting a YoY growth of 23.98% from Rs 10,957.05 crore in Q1FY26 and a QoQ decline of 42.11% from Rs 23,467.18 crore in Q4FY26.
  • Total Premium Income (Net): This reached Rs 1,27,623.16 crore in Q1FY27, up by 6.69% YoY from Rs 1,19,618.41 crore in Q1FY26 and down by 22.68% QoQ from Rs 1,65,067.19 crore in Q4FY26.
  • Profit Before Tax: For Q1FY27, profit before tax stood at Rs 13,686.39 crore, compared to Rs 10,985.77 crore in Q1FY26 and Rs 23,456.69 crore in Q4FY26.
  • Full-Year Performance: For FY26, the consolidated Net Profit was Rs 57,453.15 crore.

Standalone Financial Highlights:

  • Profit After Tax (PAT): For Q1FY27, the company reported a Net Profit of Rs 13,492.03 crore, representing a YoY growth of 22.81% from Rs 10,986.51 crore in Q1FY26. On a QoQ basis, the profit declined by 42.39% from Rs 23,420.43 crore in Q4FY26.
  • Total Premium Income: Total premium income for Q1FY27 stood at Rs 1,27,250.41 crore, showing a YoY growth of 6.75% compared to Rs 1,19,200.39 crore in Q1FY26, and a QoQ decline of 22.73% from Rs 1,64,691.21 crore in Q4FY26.
  • Total Income (Policyholders' Account): For Q1FY27, the total income was Rs 2,37,847.70 crore, representing a YoY increase of 6.72% from Rs 2,22,863.61 crore in Q1FY26 and a QoQ decrease of 14.08% from Rs 2,76,827.17 crore in Q4FY26.
  • Value of New Business (VNB): The net VNB for Q1FY27 was Rs 3,136 crore, marking a significant YoY growth of 61.32% from Rs 1,944 crore in Q1FY26.
  • VNB Margin: The net VNB margin expanded by 750 bps YoY to 22.9% in Q1FY27, compared to 15.4% in Q1FY26.
  • Full Year Performance: For the full year FY26, the company recorded a Net Profit of Rs 57,418.55 crore and Total Premium Income of Rs 5,35,984.22 crore.

Business Highlights

  • Market Share: LIC maintained its leadership in the Indian life insurance business with an overall market share of 60.10% by First Year Premium Income (FYPI). The market share in Individual business stood at 38.89% and Group business at 70.90% for Q1FY27.
  • Annualized Premium Equivalent (APE): Total APE for Q1FY27 was Rs 13,692 crore, a YoY growth of 8.22% from Rs 12,652 crore. Individual Business APE contributed Rs 7,532 crore (up 6.67% YoY), and Group Business APE contributed Rs 6,160 crore (up 10.20% YoY).
  • Assets Under Management (AUM): AUM grew by 4.10% YoY to Rs 59,39,384 crore as on June 30, 2026, compared to Rs 57,05,341 crore as on June 30, 2025.
  • Solvency Ratio: The solvency ratio improved to 2.42 in Q1FY27 from 2.17 in Q1FY26.
  • Persistency Ratios (Premium Basis): The 13th-month persistency ratio stood at 75.33% in Q1FY27 (vs 75.63% in Q1FY26), while the 61st-month ratio was 61.12% (vs 63.85% in Q1FY26).
  • Individual Policies: A total of 31,02,281 policies were sold in the individual segment during Q1FY27, registering an increase of 2.06% YoY.
  • Yield on Investments: Yield on policyholders' fund (excluding unrealized gains) was 8.28% in Q1FY27 compared to 8.45% in Q1FY26.

Segment-wise Performance (Standalone Segment Surplus/Deficit)

  • Life Participating: Reported a surplus of Rs 25.45 crore in Q1FY27 compared to Rs 115.63 crore in Q1FY26.
  • Life Non-Participating: Reported a surplus of Rs 11,415.48 crore in Q1FY27 compared to Rs 10,242.28 crore in Q1FY26.
  • Pension Non-Participating: Reported a surplus of Rs 207.66 crore in Q1FY27 compared to Rs 154.86 crore in Q1FY26.
  • Annuity Non-Participating: Reported a surplus of Rs 352.56 crore in Q1FY27 compared to Rs 317.32 crore in Q1FY26.

Shri R Doraiswamy, CEO & MD, LIC said: “We are happy to maintain our leadership in both Individual and Group Business during the first quarter of this financial year, despite increasing competitive intensity in the life insurance industry. Our overall market share by First Year Premium Income was 60.10% for the first quarter of FY 2026-27 and this fits in well with our market share strategy. What gives us even more happiness is that our VNB has grown by 61% plus and our VNB margin has expanded by 7.5% to 22.90% this year. This is a direct outcome of our product diversification and distribution strategy. I want to thank all our customers and our distributors and employees for their faith and efforts in these volatile times globally. Just very recently the Government of India has sold an additional 6.5% of shares through an OFS which has been well received by the markets. I want to welcome the new shareholders through the OFS into the LIC shareholder family and also thank the existing shareholders who have participated in the OFS for their continued faith in LIC. This year on 1st September 2026 LIC shall complete 70 years of existence and we hope we will bring many occasions of joy to our customers through innovative product launches and other initiatives.”

Result PDF

Result PDF

Life Insurance company Life Insurance Corporation of India announced FY24 results:

  • Profit After Tax at Rs 40,676 crore
  • Bonus to participating policyholders at Rs 52,956 crore
  • Board recommends final dividend of Rs 6/- Per Share, in addition to Rs 4/- interim dividend declared earlier
  • Non-Par APE share within Individual business grows by 943 bps to 18.32%.
  • Non-Par APE increased by 104.94% to Rs 7,041 crore
  • Indian Embedded Value (IEV) increases by 24.92% to Rs 7,27,344 crore
  • AUM increased by 16.48% to Rs 51,21,887 crore
  • Value of New Business (VNB) increased by 4.66% to Rs 9,583 crore.
  • VNB Margin (Net) increased by 60 bps to 16.8%
  • Solvency Ratio increased to 1.98 from 1.87
  • The Board of Directors recommended a final dividend of Rs 6/- per share for the financial year 2023-24 subject to approval of shareholders. Earlier, during the year an interim dividend of Rs 4/- was declared and paid to shareholders of the corporation. Therefore the total of interim and recommended final dividend aggregates to Rs 10/- per share.

Shri Siddhartha Mohanty, Chairperson, LIC said – “During the last year we have focused on directional changes in our product mix and enhancing margins in the business. We have more than doubled our share of Non-par business within our Individual business. Now we intend to focus our strategic interventions to maximize our market share across categories. At the same time, our sharp focus on various parameters which create superior value for all stakeholders shall continue, as demonstrated. There are key initiatives related to distribution channel and digital transformation underway. We are confident that our employees, agents and our channel partners are fully committed to achieving these objectives. We look forward to this current year as the one in which our topline growth trajectory will be back in focus.”

Result PDF

Life Insurance Corporation of India announced H1FY24 results:

  • Highest ever Half Yearly Profit After Tax at Rs. 17,469 crore
  • Non - Par APE increased by 19.77% to Rs.1,575 crore
  • Indian Embedded Value increased by 21.74% to Rs. 6.62 lakh crore
  • VNB Margin (Net) stands at 14.6%
  • AUM increased by 10.47% to Rs. 47.43 lakh crore
  • Improvement in 13th-month persistency both on premium and policy basis
  • Solvency Ratio increased to 1.90 from 1.88

Shri Siddhartha Mohanty, Chairperson, LIC said, “ During the first six months of this financial year, we have been able to implement strategies successfully to enhance the share of Non-Par products in our overall individual business. The current VNB margins are an indicator of our initiatives delivering the objective of maintaining profitability as we change direction. We are conscious of the market dynamics in certain parts of our business and are working towards profit-oriented consolidation. The distribution mix is also more diversified with an increase in share of Bancassurance and Alternate Channels. We continue to remain focused on creating higher Customer Value through Digital Innovations. We are thankful to all our stakeholders for their continued support.”

 

Result PDF

Life Insurance Corporation of India announced FY23 results:

  • Market leadership with 62.58% market share with 16.67% FYPI growth
  • Profit After Tax at Rs 36,397 crore
  • Board recommends a dividend of Rs 3/- Per Share (Previous Year Rs 1.50/- per share)
  • Value of New Business (Gross) grows by 16.46% to Rs 11,553 crore
  • VNB margin (Net) increased by 110 bps to 16.2%, the highest since listing
  • Indian Embedded Value (IEV) increases by 7.53% to Rs 5.82 lakh crore
  • AUM increased by 7.65% to Rs 43.97 lakh crore
  • 2.04 crore policies sold in the individual segment during FY23
  • 13th mth Persistency on a premium basis improves by 150 bps to 77.09%

Shri Siddhartha Mohanty, Chairperson, LIC said, “Our results demonstrate the resilience of our business, built in every nook and corner of the country, over more than six decades. Our efforts towards enhancing the share of nonpar products in the overall product mix are bearing fruits. With the increase in profit, net VNB margin, and IEV we are well-positioned to continue our growth journey, in the service of the nation and its citizens. The regulatory initiatives towards Insurance for All by 2047 will present opportunities to grow for the sector and we intend to participate in that growth. As we move forward to grow our business further, we will endeavour to create superior value for all our stakeholders. Finally, we thank all our policyholders, agents, employees, and shareholders for maintaining their faith in us”.

 

 

Result PDF

Life Insurance Corporation of India announced Q3FY23 results:

  • 9MFY23:
    • For 9MFY23, LIC registered an increase of 20.65% in the total premium income at Rs 3,42,244 crore as compared to Rs 2,83,673 crore for 9MFY22 during the previous year.
    • The Profit after Tax (PAT) for 9MFY23 was Rs 22,970 crore as compared to Rs 1,672 crore for 9MFY22.
    • The current period profit has increased due to transfer of an amount of Rs 19,941.60 crore (net of tax), pertaining to the accretions on the available solvency margin, from non-par to shareholders account.
    • The amount of Rs 19,941.60 crore comprises Rs 5,669.79 crore for Q3FY23 besides Rs 5,580.72 crore, Rs 4,148.78 crore and Rs 4,542.31 crore for the preceding three quarters respectively
    • The business momentum continues to be strong for LIC and as a result the overall market share by first year premium income (as per IRDAI) was 65.38% for 9MFY23 as compared to 61.40% for the corresponding period last year.
    • On an Annualised Premium Equivalent (APE) basis the total premium was Rs 37,545 crore for the nine months ending December 31, 2022. Of this Rs 23,419 crore (62.38%) was accounted for by the individual business and Rs 14,126 crore (37.62%) by the group business. Within the individual business, the share of par products on APE basis was 90.55% and the balance 9.45% was due to Non-Par products.
    • During 9MFY23, a total of 1.29 crore policies were sold in the individual segment, thereby registering an increase of 1.92% over the nine months ending December 31, 2021 when 1.26 crore policies were sold.
    • For 9MFY23, there was an improvement in persistency ratio on premium basis for both the 13th month and 61st month at 77.61% and 62.73% respectively. For 9MFY22, the comparable persistency by premium for the 13th and 61st month was 76.84% and 61.91% respectively.
    • For 9MFY23 the persistency ratio on number of policies basis for the 13th month and 61st month were 64.99% and 51.42% respectively. The comparable persistency ratios for 9MFY22 were 65.47% and 50.85% respectively.
    • The Assets Under Management (AUM) increased to Rs 44,34,940 crore as on December 31, 2022 as compared to Rs 40,12,172 crore on December 30, 2021 registering an increase of 10.54% year on year.
    • The operating expense ratio for 9MFY23 increased by 27 bps to 15.26% compared to 14.99% for 9MFY22.
    • The yield on investments on policyholders' funds excluding unrealized gains was 8.58% for 9MFY23 as against 8.76% for 9MFY22.
    • The Value of New Business (VNB) (Gross) for the nine months ending December 31st , 2022 was Rs 7,187 crore and the Gross VNB margin was 19.1% while the net VNB margins for the nine months ending December 31, 2022 was 14.6%.
    • The Gross VNB of the Individual Business was Rs 4,683 crore and for Group business was Rs 2,504 crore for nine months ending December 31, 2022. The Gross VNB margins for the individual and group businesses were 20% and 17.7% respectively. Within the individual business, the par business, non-par business (including linked business) had Gross VNB margins of 14.4% and 73.5% respectively.

Shri M.R. Kumar, Chairperson, LIC said: - “We continue to remain focussed on creating a portfolio mix to optimise value for all stakeholders, and in that context, increasing the proportion of Non-par business in a consistent and profitable manner. In the Individual business, on an APE basis, the share of Non Par Business has increased to 9.45% for the nine months ended December 31, 2022, as against 7.12% for full year ended March 31, 2022. While the relative growth of various products within the Non-par bucket will vary within each quarter, we believe we are firmly on our way to achieving the target product mix changes. We think the market is showing signs of robust growth and we are confident of retaining and also growing our market share going forward.”

 

 

Result PDF

Life Insurance Corporation of India announced Q1FY23 Result :

  • For the quarter ended June 30th, 2022, LIC registered an increase of 20.35 per cent in the Total Premium Income at Rs. 98,352 Crore as compared to Rs. 81,721 crore for the quarter ended June 30th 2021 during the previous year. The Profit after Tax (PAT) for the quarter ended June 30th, 2022 was Rs.682.88 crore as against Rs. 2.94 crore for the quarter ended June 30th, 2021.
  • The marketing activity picked up pace, overall business momentum was strong for LIC and as a result the overall market share by First Year Premium Income (as per IRDAI) increased to 65.42% for the quarter ended June 30th 2022 as compared to full year market share of 63.25% for FY 2021-22. The market share by First Year Premium Income for the quarter ended June 30th 2021 was 67.52%.
  • The market share of LIC in individual First Year Premium Income (as per IRDAI) was 43.86 percent for the quarter ended June 30th, 2022. In the Group First Year Premium Income (as per IRDAI), the market share of LIC during quarter ended June 30th, 2022 was 76.43 percent.
  • On an Annualised Premium Equivalent (APE) basis the total premium was Rs.10,270 crore for the quarter ended June 30th 2022. of this 62.80 percent (Rs. 6,450 crore) was accounted for by the Individual business and 37.20 percent (Rs. 3,819 crore) by the Group Business. Within the Individual business the share of Par products on APE basis was 92.25 percent and balance 7.75 percent was due to Non par products.
  • A total of 36.81 Lakh policies were sold in the individual segment during the quarter ended June 30th, 2022 thereby registering an increase of 59.56 percent over the similar quarter last year when 23.07 Lakh policies were sold.
  • For the quarter ended June 30, 2022, the persistency ratios on premium basis for the 13th month, 25th month, 37th month, 49th month and 61st month were 75.75.%, 67.78%, 64.34%,60.82% and 58.99% respectively. The comparable persistency ratios for the corresponding quarter ended June 30th, 2021 were 72.49%, 66.53.%, 62.62%, 59.87, 56%, respectively.
  • For the quarter ended June 30, 2022, the persistency ratios on number of policies basis for the 13th month, 25th month, 37th month, 49th month and 61st month were 63.85.%, 56.04%, 51.71%, 48.96% and 47.51%, respectively. The comparable persistency ratios for the corresponding quarter ended June 30th, 2021 were 61.26%, 53.94.%, 50.58%, 48.22, 44.87% respectively. The persistency has improved across the board both on premium and policies basis, as compared to quarter ended June 30th 2021.

Shri M.R. Kumar, Chairperson, LIC said:- “As the Covid situation normalises, we are seeing a larger activity on the ground, therefore bringing us back closer to our model of having “feet on street” and continuous in person engagement with our customers. While the growth numbers are very robust for the first quarter as seen in comparison to the same quarter of FY 2021-22, we are aware that the Q1 of the previous year, FY 2021-22 was impacted by a very tough second wave of Covid. However, the trajectory seems upwards for sure and we are looking at increased business volumes as is evident in our market share in the year to date since January 2022. Finally, we are glad to inform that LIC has been now included in the Fortune 500 list of companies and is placed at number 98 in the list. With this ranking, LIC is the top ranked Indian company on the Fortune 500 list."

Result PDF

Life Insurance Corporation of India announced Q4FY22 results:

  • LIC registered an increase of 6.1 percent in the Net Premium Income at Rs. 4,27,419 crore as compared to Rs. 4,02,844 crore in the previous financial year ended March 31, 2021.
  • The Profit after Tax (PAT) for the full year ended March 31, 2022, was Rs 4,043.12 crore as against Rs. 2,900.57 crore for the year ended March 31, 2021, thereby registering an increase of 39.39 percent.
  • The Earnings Per Share (EPS) for FY22 was Rs. 6.39 per share.
  • The Yield on Investments on policyholders funds excluding unrealized gains was 8.55 % for period ended March 31st, 2022 as against 8.69 % for the year ended March 31, 2021.
  • The Net NPAs in the policyholders fund declined to 0.04% for the year ended March 31, 2022 as compared to 0.05% for the previous year ended March 31, 2021.
  • The solvency ratio for the year ended March 31, 2022 was 1.85 as against 1.76 for the period ended March 31, 2021.
  • The Board of Directors have also recommended a dividend of Rs. 1.50 per share translating to a dividend payout of Rs. 948.75 crore which aggregates to about 23.46 % of PAT.

 

 

Result PDF

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