LIC share price declines as Q3 net premium income falls 9% to ₹1,06,891 crore

The stock was down 0.86% to ₹809.10 apiece on the National Stock Exchange (NSE) at 12:03 pm.

LIC Q3 results

LIC posted a 17% increase in its profit after tax (PAT) to ₹11,056 crore in the latest December quarter, compared to ₹9,444 crore a year back.

However, net premium income, or NPI, stood at ₹1,06,891 crore in the quarter under review, down 8.65% from ₹1,17,017 crore in the corresponding period a year ago.

The total income declined 4.92% to ₹2,01,994 crore in the third quarter of FY25 as against ₹2,12,447 crore in the same period last fiscal.

During the quarter, expenses came down to ₹14,416 crore from 18,194 crore in Q3 FY24.

Siddhartha Mohanty, Managing Director and CEO of LIC said, "Our focus and strategy remain consistent towards changing our product and channel mix to serve the needs of our customers in a dynamic environment."

In terms of market share measured by First Year Premium Income (FYPI), as per the Insurance Regulatory and Development Authority (IRDAI), LIC continues to be the market leader in the Indian life insurance business. It has an overall market share of 57.42% for the nine months ended December 2024.

The assets under management, or AUM, advanced 10% to ₹54,77,651 crore as of December 2024 as against ₹49,66,371 crore on December 31, 2023.

The solvency ratio increased to 2.02, up from 1.93 on December 31, 2023.

"LIC continues to be committed to serving the society through higher insurance coverage in the country. LIC’s Bima Sakhi Yojana, for empowerment of women by offering them career in insurance sales as an agent, was launched by Hon’ble Prime Minister on 9th December 2024. Till date more than 1.25 lakh women have been registered and more than 70,000 have been appointed as Bima Sakhis," Mohanty said.