New Delhi — Life Insurance Corporation of India reported a 22.8% increase in net profit for the quarter ended June 30, supported by higher premium income, improved new business profitability and stronger investment returns.
The state-owned insurer posted a net profit of Rs 13,492 crore in the first quarter of fiscal 2027, compared with Rs 10,987 crore in the same period a year earlier.
Net premium income rose 7% to Rs 1.27 lakh crore, while other income increased to Rs 635 crore from Rs 130 crore in the year-ago quarter.
LIC’s value of new business, a key measure of profitability from policies sold during the period, surged 61% to Rs 3,136 crore.
The value of new business margin expanded by 750 basis points to 22.9% from 15.4%, reflecting a more profitable product mix and stronger returns from new policies.
First-year premium income increased 22% to Rs 9,217 crore, indicating continued momentum in new policy sales.
Total income rose to Rs 2,37,848 crore from Rs 2,22,864 crore in the corresponding quarter of the previous fiscal year, according to a stock exchange filing.
LIC’s solvency ratio improved to 2.42 from 2.17 a year earlier, remaining above the regulatory minimum.
Total expenses increased to Rs 2,25,573 crore from Rs 2,11,928 crore in the year-ago period.
Assets under management rose 4.1% to Rs 59,39,384 crore.
The results were announced after the stock market closed. LIC shares ended Thursday’s session 1.39% lower at Rs 387.55. (Source: IANS)
