New Delhi, June 9 (IANS) Life Insurance Corporation of India (LIC), the country’s largest life insurer, reported a 13.79 per cent year-on-year increase in group premium for May this year. For the first two months of the financial year 2025-2026, group premium grew 13.66 per cent, data released by the Life Insurance Council showed on Monday.
In May, LIC collected Rs 14,374.87 crore in group premium up from Rs 12,632.26 crore in May 2024. The overall new business premium grew 10.27 per cent from Rs 16,690.39 crore in May 2024 to Rs 18,405.04 crore in May this year.
The overall life insurance industry garnered Rs 30,463.20 crore, marking an 12.68 per cent rise over Rs 27,034.14 crore collected in the same month last year.
In the Individual Premium category, LIC posted a slight decline of 0.69 per cent, collecting Rs 4,030.17 crore in May 2025 compared to Rs 4,058.13 crore in May 2024.
Total policies issued by LIC during May this year stood at 10.68 lakh compared to 12.51 lakh in the same period last year. While individual policies numbered 10.67 lakh for the month compared to 12.48 lakh in May 2024. Group policies stood at 1,389 in the month compared with 2,279 for the month of May 2024.
Total Premium collected by LIC for the April-May 2025, stood at Rs 32,015.68 crore up from Rs 29,074.03 crore for the same months last year. In the Individual Premium segment amounted to Rs 7,191.04 crore, down from Rs 7,233.61 crore in the same period last year. The Group Premium segment amounted to Rs 24,824.64 crore for the April-May 2025, up from Rs 21,840.42 crore in the previous year.
LIC issued a total policy of 17.94 lakh for the months of April and May 2025 compared with 21.07 lakh policies in the same period last year. Policies for the Individual Category stood at 17.91 lakh in the April-May 2025, compared with 21.03 lakh in the April-May 2024. Group Policies stood at 2,558 in the April-May 2025 compared with 3,704 policies in the April-May 2024.
LIC reported a robust 38 per cent YoY growth in Q4 FY25 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 per cent increase in PAT to Rs 48,151 crore. A bonus of Rs 56,190.24 crore was declared to policyholders.
–IANS
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