LIC's new business premium surges to Rs 2.27 lakh crore in FY25

New Delhi, April 23 (IANS) Life Insurance Corporation of India (LIC), the country’s largest life insurer, registered new business premium to the tune of an impressive Rs 2,26,669.91 crore in for FY25, which includes a record Rs 62,404.58 crore from individual new business, according to data released by the Life Insurance Council on Wednesday.

Individual new business premium for FY25 registered a growth of 8.35 per cent year-on-year basis, the figures showed. However, the group Premium during the financial year fell by a marginal 0.40 per cent, to Rs 1,64,265.34 crore from Rs 1,64,925.89 crore last year.

For FY25, LIC sold 1.78 crore new policies, despite the introduction of new surrender value norms effective from October 1, 2024.

Looking at segment-specific performance in March 2025, the individual premium segment recorded a robust 10.75 per cent rise, totalling Rs 10,022 crore, up from Rs 9,048.87 crore in March 2024. However, the group premium fell by 1.34 per cent to Rs 26,885.33 crore from Rs 27,251.74 crore last year.

LIC had reported a 17 per cent year-on-year rise in standalone net profit for the October-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.

LIC has also been ranked third among the world's strongest insurance brands, achieving a Brand Strength Index (BSI) score of 88 out of 100, according to the Brand Finance Insurance 100 2025 report.

Poland-based PZU secured the top spot with a BSI score of 94.4, followed by China Life Insurance, which ranked second with a BSI score of 93.5.

In terms of overall brand value, LIC holds the 12th position among the most valuable insurance brands globally, while SBI Life ranks 76th, making them the only two Indian insurers in the top 100.

According to the Brand Finance report, the top 100 insurance brands have grown 9 per cent in brand value in 2025, driven by improved underwriting results, higher investment income, rising interest rates, and increased profitability. Market capitalisation for top insurance brands rose as demand for insurance products increased across sectors.

--IANS

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