The Life Insurance Corporation of India (LIC) has reported a significant increase in individual premiums for the month of June 2025. According to data released by the Life Insurance Council, LIC’s individual premiums grew by 14.6% year-on-year, outpacing the 12.12% growth rate of private life insurers. This robust growth is a positive sign for the company, which is the largest life insurer in the country.
In terms of overall premium collection, LIC collected Rs 22,082.37 crore in group premiums in June 2025, down from Rs 23,731.13 crore in June 2024. The overall new business premium fell by 3.43% to Rs 27,395 crore in June 2025, compared to Rs 28,366.87 crore in June 2024. The total number of policies issued by LIC during the month stood at 12.49 lakh, down from 14.65 lakh in June 2024.
For the quarter ending June 2025, LIC’s total premium collection stood at Rs 59,410.69 crore, up from Rs 57,440.89 crore in the same period last year. The individual premium segment grew by 5.34% to Rs 12,503.68 crore, while the group premium segment increased by 2.93% to Rs 46,907.01 crore. LIC issued a total of 30.43 lakh policies during the quarter, down from 35.72 lakh policies in the same period last year.
The data suggests that while LIC’s individual premium business is growing strongly, the company’s group premium business and overall policy issuance are declining. The decline in group premium collection and policy issuance could be a cause for concern, and the company may need to take steps to revitalize its group business. Overall, however, LIC’s performance in the quarter ending June 2025 is a positive sign for the company, and it remains to be seen how the company will perform in the coming months.
It is worth noting that the life insurance industry is highly competitive, and companies need to continuously innovate and adapt to changing market conditions to remain competitive. LIC’s ability to grow its individual premium business is a testament to its strong distribution network and product offerings. However, the company needs to focus on reviving its group business and increasing policy issuance to maintain its market leadership.
In conclusion, LIC’s performance in the quarter ending June 2025 is a mixed bag, with strong growth in individual premiums but declining group premium collection and policy issuance. The company needs to take steps to address these challenges and maintain its market leadership in the highly competitive life insurance industry.