LIC increases shareholding in State Bank of India to 9.49%; check details

The insurance giant has increased its stake to 9.49% from an earlier 9.21%.

“…this is to inform you that the Life Insurance Corporation of India (“the Corporation”) has increased its shareholding in equity shares of State Bank of India (“SBI”) from 81,465,986,9 to 87,585,938,0, i.e., from 9.21% to 9.49% of the paid-up capital of SBI,” LIC said in a regulatory filing on Monday.

On Monday, shares of LIC settled at ₹928.95 apiece, marginally rising 0.63%, while State Bank of India’s shares advanced 0.15% to end at ₹824.60 apiece.

People familiar with the matter had told various news platforms that the Life Insurance Corporation of India (LIC) will likely be the biggest anchor investor with a potential bid of over 500 crore.

Meanwhile, news agency PTI had reported this month that the government is working on further stake sales in LIC.

News agency Press Trust of India on July 10 had reported that the disinvestment department would work out finer details of the transaction, citing people familiar with the matter.

The government currently holds a 96.5% stake in LIC. It had sold 3.5% through an initial public offering (IPO) in May 2022 at a price band of ₹902-949 a share. The share sale fetched the government around ₹21,000 crore.

People with knowledge on the matter told PTI that the government has given its approval for further share sales in LIC through the OFS route and the discussions are still in the nascent stage.

The government needs to offload another 6.5% stake in the public sector life insurer to meet the mandated 10% public shareholding requirement by May 16, 2027.

The quantum of stake sale, price, and timing would be decided in due course, the source added.

Meanwhile, the insurance firm reported a 14.6% year-on-year (YoY) increase in individual premium in June 2025, higher than the 12.12% growth in premium income of private life insurers.

In June 2025, LIC collected ₹5,313 crore in individual premium, compared to 25 private sector companies, which together accounted for ₹8,408 crore.

During the month of June 2025, total policies issued by LIC stood at 12.49 lakh, from 14.65 lakh in the same period last year. In the individual policies category, LIC issued 12.48 lakh policies for June 2025 from 14.62 lakh policies in 2024. Group policies stood at 1,290 in the last month, down from 2,827 for June 2024.

In group premium income, LIC earned ₹22,087 crore, a 7% decline over June last year. The private sector reported a degrowth of 19% in group premium income at ₹5,315 crore.

The total premium income of LIC during the month declined 3.43% to ₹27,395 crore. Private sector players reported a 2.45% decline at ₹13,722 crore in total premium income.