The Life Insurance Corporation of India (LIC) has reported a significant surge in its premium collections and policy sales during the first 11 months of FY25. According to the latest industry data, LIC’s group yearly renewable premiums rose by 28.29% to Rs 1.90 lakh crore, while individual premiums saw a 7.9% increase. The insurer also issued 12.02 lakh policies under the individual category and 1,430 policies and schemes under the group yearly renewable segment. Overall, LIC’s total number of policies sold during the period stood at 12.04 lakh.
In terms of premium collections, LIC’s individual premiums for the 11-month period ending February 2025 totalled Rs 52,382.58 crore, with individual category policies reaching 1.46 crore. Policies and schemes under the group yearly renewable segment stood at 23,693, and the total number of LIC policies sold during the period totalled 1.46,72,007.
The insurer’s financial performance is also notable, with a 17% year-on-year rise in standalone net profit for the December quarter, reaching Rs 11,056.47 crore. This growth was supported by a decline in management expenses, particularly employee-related costs. Additionally, LIC has been ranked as the third strongest insurance brand globally, with a Brand Strength Index (BSI) score of 88/100, and holds the 12th position among the world’s most valuable insurance brands. SBI Life is the only other Indian insurer to feature in the global top 100, ranking 76th.