How much did LIC’s new business premium grow in April?
Click to start listening
Synopsis
In April, LIC reported a substantial year-on-year growth of 9.91% in new business premiums, surpassing both the industry and private life insurer growth rates. This indicates LIC's strong market position and resilience in the life insurance sector, reflecting a positive trend amidst competitive dynamics.
Key Takeaways
- LIC's new business premium grew by 9.91%.
- Outperformed industry growth of 8.43%.
- Total policy issuance stands at 7.26 lakh.
- Group Premium segment rose by 13.48%.
- Total premium collected in April was Rs 13,610.63 crore.
New Delhi, April 13 (NationPress) The Life Insurance Corporation of India (LIC) has announced an impressive year-on-year growth of 9.91 percent in new business premiums for April, outpacing the industry's growth rate of 8.43 percent and the private life insurers growth of 6.09 percent.
According to data shared by the Life Insurance Council, LIC's new business premium collection reached Rs 13,610.63 crore last month, a rise from Rs 12,383.64 crore in April of the previous year.
The total life insurance sector amassed Rs 21,965.73 crore, reflecting an 8.43 percent increase over Rs 20,258.86 crore in the same month last year.
The private life insurers contributed Rs 8,355.10 crore, indicating a 6.09 percent growth compared to Rs 7,875.22 crore from the previous year.
In the Individual Premium category, LIC experienced a minor decline of 0.46 percent, gathering Rs 3,160.87 crore in April 2025 compared to Rs 3,175.47 crore in April 2024.
Conversely, the Group Premium segment exhibited a robust growth of 13.48 percent, climbing to Rs 10,449.76 crore from Rs 9,208.17 crore a year earlier.
LIC issued a total of 7.26 lakh policies, down from 8.56 lakh during the same period last year. Individual policies accounted for 7.24 lakh, decreasing from 8.55 lakh policies in 2024, while Group policies stood at 1,169, a decline from 1,425 in April 2024.
Over the four-month period from January to April 2025, LIC's total premium collection reached Rs 82,324.58 crore, down from Rs 87,500.97 crore in the same span last year.
In the Individual Premium segment, this amounted to Rs 23,188.46 crore, an increase from Rs 22,164.24 crore in the corresponding period last year.
The Group Premium segment totaled Rs 59,136.12 crore from January to April, down from Rs 65,336.73 crore in the previous year.
LIC issued a total of 68.05 lakh policies during the four-month period from January to April 2025 compared to 87.05 lakh in the same timeframe last year.
Point of View
I recognize the significance of LIC's impressive growth in the life insurance sector. This performance not only reflects the company's authority and trustworthiness but also emphasizes its adaptability in a competitive environment. Our commitment is to keep our audience informed about such pivotal developments.
NationPress
22/07/2025
Frequently Asked Questions
What is the growth percentage of LIC's new business premium for April?
LIC reported a growth of 9.91% in new business premiums for April year-on-year.
How does LIC's growth compare to the industry average?
LIC's growth of 9.91% surpasses the industry average growth rate of 8.43%.
What was the total premium collection by LIC in April?
LIC collected Rs 13,610.63 crore in new business premiums in April.
How many policies did LIC issue in this period?
LIC issued a total of 7.26 lakh policies in April.
What is the trend in Group Premium for LIC?
The Group Premium segment saw a growth of 13.48%, reaching Rs 10,449.76 crore.
