LIC Q1 Results Highlights: Net profit rises 9.6% YoY to ₹10,461 crore, total premium income surges 15.6% YoY

• Overall market share by first-year premium income (FYPI) increased to 64.02% from 61.42% on a YoY basis.
• LIC sold a total of 35.65 lakh policies in the individual segment during the June quarter, a rise of 10.8% YoY.
• Total premium income increased by 15.66% to ₹1.13 lakh crore. Under the individual business category, premium income rose 7% YoY to ₹67,192 crore, while premium income under the group business rose 30.8% ₹46,578 crore.
• New business premium income (Individual) increased by 13.67% to ₹11,892 crore.
• Value of new business (VNB) increased by 23.66% to ₹1,610 crore. The net VNB margin for the quarter increased by 20 bps to 13.9% as compared to 13.7% in the same quarter of FY24.
• Asset under management (AUM) increased by 16.22% to ₹53.59 lakh crore.
• The solvency ratio increased to 1.99 from 1.89, while the overall expense ratio reduced by 98 bps to 11.87% from 12.85%.

• Siddhartha Mohanty, CEO & MD, LIC said: "During the first quarter of this financial year, our market share increased to 64.02% as compared to 61.42% for the same quarter of the previous year and 58.87% for the full year ended March 31, 2024. LIC is progressing on its stated objective of gaining market share after having focused, during the last year, on consolidating changes in product mix, channel mix and margin improvement.

• The momentum around increasing the share of Non-Par products within the Individual segment continues and our Non-Par Share, on an APE basis, within the Individual business has increased to 23.94% in the first quarter of FY25 as compared to 10.22% for the same quarter last year. While achieving these growth parameters our margin is stable and our expenses ratio has declined by 98 bps to 11.87% in this quarter.

• As leader of the insurance industry in India, we are conscious of our responsibility to deliver enhanced insurance penetration and we look forward to working with the regulatory authorities to achieve the same. We are committed to further optimizing our product and channel mix and improvement of margins. With the digital transformation exercise underway, we intend to create a seamless experience for our customers and partners. We thank our customers, shareholders, distribution partners and employees whose continuous support allows us to create superior sustainable value as we move to next stage of our journey.”

• Current price: ₹1,139.6 (+1.43%)
• Open: ₹1,126
• High: ₹1,148.4
• Low: ₹1,118.9

• New Jeevan Shanti
• Nivesh Plus
• Index Plus
• SIIP
• Jeevan Utsav
• Jeevan Umang
• Bima Jyoti

• Siddhartha Mohanty, CEO & MD (Chairperson of the Committee)
• Dr Maruthi Prasad Tangirala, Government Nominee Director
• M Jagannath, Managing Director
• Tablesh Pandey, Managing Director
• Sat Pal Bhanoo, Managing Director
• R Doraiswamy , Managing Director
• Dr Ranjan Sharma, Independent Director
• Vinod Kumar Verma, Independent Director
• Anil Kumar, Independent Director
• MP Vijay Kumar, Independent Director
• Anjuly Chib Duggal, Independent Director
• Gurumoorthy Mahalingam, Independent Director
• Dr VS Parthasarathy, Independent Director

• Current price: ₹1,126.4 (+0.26%)
• Open: ₹1,126
• High: ₹1,142
• Low: ₹1,118

In Q4 FY24, the state-run insurance giant had reported a net profit of ₹40,676 crore as compared to ₹36,397 crore in the year-ago period.

Apart from LIC, RVNL, companies that will also announce their Q1 results today include Bharat Forge, Eicher Motors, SAIL, ABB India, MRF, Biocon, Oil India, Cochin Shipyard, Container Corporation of India, DCM Financial and Steel Authority of India.