LIC records 28 pc jump in group yearly renewable premiums during April-Feb
Life Insurance Corporation of India (LIC) recorded a 28.29 per cent surge in group yearly renewable premiums and a 7.9 per cent rise in individual premiums during the first 11 months of FY25, according to the latest industry data.
As of February 2025, LIC’s total premium collection stood at Rs 1.90 lakh crore, reflecting a 1.90 per cent increase from the Rs 1.86 lakh crore collected in the corresponding period of FY24.
In February 2025, Individual Premiums declined by 1.07 per cent to Rs 4,837.87 crore, compared to Rs 4,890.44 crore in February 2024. However, for the 11-month period ending February 2025, policies under Group Premiums totalled 4,898, up 13.53 per cent from 4,314 collected during the same period in the previous fiscal year.
The data also shows that LIC issued 12.02 lakh policies under the Individual category during February this year, while the Group Yearly Renewable segment recorded 1,430 policies and schemes.
Across all categories, LIC’s total number of policies stood at 12.04 lakh.
LIC Individual Premium collections between April 2024 and February 2025 totalled Rs 52,382.58 crore while the insurers' individual category policies reached 1.46 crore.
The policies and schemes under the Group Yearly Renewable segment stood at 23,693 during this 11-month period while the total number of LIC policies sold during the period totalled 1,46,72,007, according to the figures.
LIC has been ranked as the third strongest insurance brand globally, with a Brand Strength Index (BSI) score of 88/100, according to the Brand Finance Insurance 100 - 2025 report. Poland-based PZU secured the top position with a BSI score of 94.4, followed by China Life Insurance at 93.5. In terms of overall brand value, LIC holds the 12th position among the world’s most valuable insurance brands, while SBI Life, ranking 76th, is the only other Indian insurer in the global top 100.
On the financial front, LIC reported a 17 per cent year-on-year rise in standalone net profit for the December quarter, reaching Rs 11,056.47 crore, compared to Rs 9,444.42 crore in the previous year. This growth was supported by a decline in management expenses, particularly employee-related costs.
