Synopsis
LIC has reported a significant 28.29% increase in group yearly renewable premiums along with a 7.9% rise in individual premiums for FY25's first 11 months, demonstrating impressive growth in the insurance sector.Key Takeaways
- LIC reported a 28.29% increase in group yearly renewable premiums.
- Individual premiums rose by 7.9% during the same period.
- Total premium collection reached Rs 1.90 lakh crore.
- LIC issued 12.02 lakh policies in February 2025.
- Ranked 3rd strongest insurance brand globally.
New Delhi, March 11 (NationPress) The Life Insurance Corporation of India (LIC) has experienced a remarkable 28.29 percent increase in its group yearly renewable premiums, along with a 7.9 percent rise in individual premiums during the first 11 months of FY25, as per the latest industry statistics.
As of February 2025, LIC’s total premium collection reached Rs 1.90 lakh crore, which marks a 1.90 percent growth compared to Rs 1.86 lakh crore collected during the same period of FY24.
In February 2025, individual premiums saw a slight decline of 1.07 percent, totaling Rs 4,837.87 crore, down from Rs 4,890.44 crore in February 2024. However, for the 11-month period ending February 2025, group premiums amounted to 4,898 policies, reflecting a 13.53 percent increase from 4,314 during the same period last fiscal year.
The data further reveals that LIC issued 12.02 lakh policies in the individual category during February this year, while the Group Yearly Renewable segment reported 1,430 policies and schemes.
Overall, LIC’s total number of policies stood at 12.04 lakh.
Individual premium collections from April 2024 to February 2025 amounted to Rs 52,382.58 crore, with individual policies reaching 1.46 crore.
Within the Group Yearly Renewable segment, 23,693 policies were issued during this 11-month period, contributing to a total of 1,46,72,007 LIC policies sold.
LIC has been recognized as the third strongest insurance brand worldwide, boasting a Brand Strength Index (BSI) score of 88/100, according to the Brand Finance Insurance 100 - 2025 report. The top spot was claimed by Poland's PZU with a BSI score of 94.4, followed by China Life Insurance at 93.5. In terms of overall brand value, LIC ranks 12th among the world’s most valuable insurance brands, with SBI Life being the only other Indian insurer in the global top 100 at 76th position.
Financially, LIC reported a 17 percent year-on-year growth in standalone net profit for the December quarter, reaching Rs 11,056.47 crore, compared to Rs 9,444.42 crore last year. This growth was facilitated by a reduction in management expenses, particularly those related to employees.
