Mumbai, Aug 7: Life Insurance Corporation of India (LIC), the country’s largest life insurer, on Thursday reported a 3.91 per cent year-on-year (YoY) increase in its consolidated net profit for the June quarter of the current financial year (Q1 FY26).
The profit rose to Rs 10,957 crore from Rs 10,544 crore recorded in the same period previous year (Q1 FY25), according to its stock exchange filing.
LIC’s net premium income also showed steady growth. For the quarter under review, it stood at Rs 1,19,618.41 crore — marking a 4.7 per cent rise from Rs 1,14,230.24 crore in Q1 FY25.
“During the first quarter of this financial year, our overall market share by First Year Premium Income was 63.51 per cent and we maintained our leadership in both Individual and Group Business,” R Doraiswamy, CEO and MD, LIC said.
“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,” Doraiswamy added.
On a standalone basis, LIC posted a 5 per cent YoY increase in profit, which rose to Rs 10,986.51 crore compared to Rs 10,461.05 crore in the corresponding quarter of the previous year.
The company saw strong momentum in its non-participating (non-par) business. The share of non-par APE (annualised premium equivalent) in the individual segment climbed to 30.34 per cent during the quarter, up from 23.94 per cent in the same period previous year.
