LIC Reports 16% Jump in Consolidated Net Profit in Q3 FY25, AUM Up 10.29%
Life Insurance Corporation of India (LIC) has announced a significant rise in its consolidated net profit, reporting a 16.3% increase for the third quarter (Q3) of FY25. The company’s net profit reached ₹11,008 crore, compared to ₹9,468.99 crore in the same quarter last year, reflecting strong performance across its business segments.
New Delhi: Life Insurance Corporation of India (LIC) has announced a significant rise in its consolidated net profit, reporting a 16.3% increase for the third quarter (Q3) of FY25. The company’s net profit reached ₹11,008 crore, compared to ₹9,468.99 crore in the same quarter last year, reflecting strong performance across its business segments.
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Key Financial Highlights of LIC’s Q3 FY25:
- Profit After Tax (PAT): LIC’s PAT for the nine months ending December 31, 2024, stood at ₹29,138 crore, a growth of 8.27% from ₹26,913 crore during the same period in 2023.
- Total Premium Income: The insurer saw an increase of 5.51% in total premium income, reaching ₹3,40,563 crore in the first nine months of FY25.
- Assets Under Management (AUM): LIC’s AUM rose by 10.29%, reaching ₹54,77,651 crore, underscoring the company’s strong market position.
- Individual Business Performance: Individual business non-participating annualized premium equivalent (APE) surged by 106.52%, amounting to ₹6,813 crore. The share of non-par APE within individual business grew to 27.68%, up from 14.04% last year.
- New Business Premium: The new business premium for individual policies increased by 9.73%, totaling ₹42,441 crore during the first nine months of FY25.
LIC’s Continued Leadership in the Life Insurance Market
LIC remains the leader in India’s life insurance sector, maintaining a dominant market share of 57.42% for the nine months ending December 31, 2024. Despite an evolving market landscape, LIC’s consistent strategy of adapting product and channel mix to meet customer needs has bolstered its market position.
Value of New Business (VNB) Growth
The company also reported a significant increase in the value of new business (VNB) margin. For the nine-month period ending December 31, 2024, the VNB margin improved to 17.1%, up from 16.6% in the previous year. The VNB for this period reached ₹6,477 crore, marking a 9.08% growth from ₹5,938 crore in FY24.
Expansion of Bima Sakhi Yojana
LIC has also made strides in financial inclusion through its Bima Sakhi Yojana, a program designed to empower women by involving them in the insurance business. Over 1.25 lakh women have been registered, and more than 70,000 have been appointed as Bima Sakhis.
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LIC’s Strategic Focus for Growth
LIC’s CEO and Managing Director, Siddhartha Mohanty, emphasized that the company’s ongoing strategy continues to focus on diversifying its product offerings and channels to meet the evolving needs of its customers in a dynamic market environment.
The insurer’s impressive growth in Q3 FY25 highlights its robust performance and market resilience, as it strengthens its position as India’s leading life insurance provider.
