7 hours ago
- Business
- United News of India
LIC's Group Premium grows 14 percent for May
Kolkata, June 9 (UNI) Life Insurance Corporation of India (LIC) on Monday reported a 13.79 percent year-on-year (YoY) increase in group premium for May 2025.
According to data released by the Life Insurance Council, group premiums grew 13.66% for the first two months of fiscal 2026.
In May 2025, LIC collected Rs14,374.87 crore in group premiums, up from Rs12,632.26 crore in May 2024. The new business premium grew 10.27 pc from Rs 16,690.39 crore for May 2024 to Rs 18,405.04 crore for May 2025. The overall life insurance industry garnered Rs30,463.20 crore, marking a 12.68 pc rise over Rs 27,034.14 crore collected in the same month last year.
In the Individual Premium category, the insurance behemoth posted a decline of 0.69 pc, collecting Rs 4,030.17 crore in May 2025 compared to Rs 4,058.13 crore in May 2024.
During May 2025, total policies issued by LIC fell to 10.68 lakh from 12.51 lakh in the same period last year. While individual policies numbered 10.67 lakh for May 2025 from 12.48 lakh policies forMay 2024, group policies declined to 1,389 in May 2025 from 2,279 for May 2024.
Total premium collected by the company for April-May 2025, went up to Rs 32,015.68 crore from Rs 29,074.03 crore for the same months last year.
The individual premium segment showed a slight decrease to Rs 7,191.04 crore, compared to Rs 7,233.61 crore in the same period last year. The group premium segment amounted to Rs 24,824.64 crore for April-May 2025, from Rs 21,840.42 crore in the previous year.
LIC issued a total of 17.94 lakh policies for April-May 2025, a drop from 21.07 lakh policies in the same period last year. Policies for the Individual category also declined to 17.91 lakh in April-May 2025, from 21.03 lakh in April-May 2024. Continuing with the trend, group policies went down to 2,558 in April-May 2025 from 3,704 policies in April-May 2024.
LIC reported a robust 38 pc YoY growth in Q4FY25 consolidated net profit, reaching Rs 19,039 crore, and announced a final dividend of Rs 12 per share. While net premium income saw a slight dip, the full financial year witnessed an 18% increase in PAT to Rs 48,151 crore.
A bonus of Rs 56,190.24 crore was declared to policyholders, demonstrating the company's continued commitment to delivering value. Value of New Business (VNB) rose by 4.47 percent year-on-year to Rs 10,011 crore, with VNB margin (net) expanding by 80 basis points to 17.6 percent.
The share of Non-Par Annualised Premium Equivalent (APE) within the individual business grew by 937 basis points year-on-year to 27.69 percent, while Non-Par APE itself surged by 50.28 percent year-on-year to Rs 10,581 crore. UNI PC SSP
