Noida, Aug 6 (APAC Media): Life Insurance Corporation of India (LIC) on Thursday reported a 23% year-on-year increase in standalone net profit at Rs 13,492 crore for the first quarter of FY27, compared with Rs 10,986 crore in the corresponding period a year earlier.
Life Insurance Corporation of India (LIC) maintained its leadership in India’s life insurance sector with a 60.10% market share in terms of First Year Premium Income (FYPI), according to IRDAI data.
For the quarter ended June 30, 2026, LIC reported total premium income of ₹127,250 crore, up 6.75% from ₹119,200 crore in the year-ago period.
Individual business premium rose 5.52% to ₹75,416 crore, while group business premium increased 8.61% to ₹51,834 crore during the quarter.
LIC held a 38.89% share in the individual segment and 70.90% in the group segment. The insurer sold 31.02 lakh individual policies in the quarter, compared with 30.39 lakh policies a year earlier.
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“We are pleased to maintain our leadership in both individual and group businesses in the first quarter of FY 2026-27. Our 60.10% market share in terms of first-year premium income reflects our strategy, while the growth of over 61% in VNB and expansion of VNB margin to 22.90% demonstrate the success of our product diversification and distribution approach. We thank our customers, distributors, employees, and shareholders for their continued trust and support. As LIC completes 70 years on September 1, 2026, we remain committed to bringing innovative products and initiatives for our customers,” LIC CEO & MD R. Doraiswamy said.
The company reported a strong performance for the quarter ended June 30, 2026, with Value of New Business (VNB) rising 61.32% year-on-year to ₹3,136 crore, compared with ₹1,944 crore in the same quarter last year. The net VNB margin also improved significantly, expanding by 750 basis points to 22.9% from 15.4% in the corresponding period.
The insurer’s solvency ratio strengthened to 2.42 as of June 30, 2026, from 2.17 a year earlier, reflecting a stronger capital position. The 13th-month and 61st-month persistency ratios on a premium basis stood at 75.33% and 61.12%, respectively, during the quarter, compared with 75.63% and 63.85% in the year-ago period.
On a policy count basis, the 13th-month and 61st-month persistency ratios were recorded at 66.45% and 48.74%, respectively, against 64.35% and 51.12% in the corresponding quarter of the previous year.
The company’s Assets Under Management (AUM) grew 4.10% year-on-year to ₹59,39,384 crore as of June 30, 2026, from ₹57,05,341 crore a year earlier.
The overall expense ratio for the quarter stood at 10.63%, marginally higher than 10.47% in the same quarter last year, an increase of 16 basis points.
–ENDS–
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