Daijiworld Media Network - Mumbai
Mumbai, Apr 23: Life Insurance Corporation of India (LIC), the nation’s largest life insurer, has posted an impressive new business premium collection of Rs 2,26,669.91 cr for the financial year FY25. This includes a record Rs 62,404.58 cr from individual new business, according to data released by the Life Insurance Council on Wednesday.
The individual new business premium for FY25 saw a healthy growth of 8.35% year-on-year. However, the group premium for the year dipped slightly by 0.40%, falling to Rs 1,64,265.34 cr from Rs 1,64,925.89 cr in the previous year.
In FY25, LIC sold a total of 1.78 cr new policies, despite the introduction of new surrender value norms from October 1, 2024.
March 2025 saw robust performance in the individual premium segment, which rose by 10.75%, amounting to Rs 10,022 cr, compared to Rs 9,048.87 cr in March 2024. On the other hand, the group premium witnessed a slight decline of 1.34%, falling to Rs 26,885.33 cr from Rs 27,251.74 cr in March 2024.
In addition to the premium collection, LIC reported a 17% year-on-year rise in standalone net profit for the October-December quarter, reaching Rs 11,056.47 cr, compared to Rs 9,444.42 cr in the previous year. This growth was supported by a reduction in management expenses, particularly employee-related costs.
LIC has also been ranked third among the world’s strongest insurance brands, with a Brand Strength Index (BSI) score of 88 out of 100, according to the Brand Finance Insurance 100 2025 report. Poland-based PZU took the top spot with a BSI score of 94.4, followed by China Life Insurance in second place with a BSI score of 93.5.
Globally, LIC ranks 12th in terms of overall brand value among the most valuable insurance brands, while SBI Life Insurance holds the 76th position. They are the only two Indian insurers in the top 100.
The Brand Finance report further highlighted that the top 100 insurance brands saw a 9% increase in brand value in 2025, driven by improved underwriting results, higher investment income, rising interest rates, and enhanced profitability, as demand for insurance products surged across sectors.