State-owned Life Insurance Corp (LIC) reported ‌a ⁠23% year-on-year (YoY) growth in its consolidated net profit at Rs 23,467 crore in the fourth quarter of FY26, compared with Rs 19,039 crore in the last-year period. The company's board has also recommended a final dividend of Rs 10 per share for the financial year 2025-26.Net premium income rose 12% to Rs 1.65 lakh crore compared with Rs 1.48 lakh crore a year earlier.The increase was driven by growth across renewal and single premium segments.First-year premium income stood at Rs 13,009 crore during the quarter compared with Rs 11,103 crore in the year-ago period, registering growth of 17%. Renewal premium income rose 14% YoY to Rs 82,233 crore from Rs 79,425 crore.Single premium collections increased 22% to Rs 70,119 crore from Rs 57,694 crore in Q4FY25.Income from investments, a key earnings driver for LIC, rose sharply to Rs 1.09 lakh crore during the quarter compared with Rs 93,443 crore in the corresponding quarter last year, showing a growth of around 17%.LIC reported total surplus of Rs 89,058 crore during the quarter compared with Rs 77,053 crore a year earlier. Surplus after share of profit from associates and minority interest stood at Rs 24,964 crore compared with Rs 20,271 crore a year ago.Expenses of management rose to Rs 20,699 crore during the quarter compared with Rs 16,526 crore a year ago. Employee remuneration and welfare expenses increased sharply to Rs 8,891 crore from Rs 5,943 crore in Q4FY25. Other operating expenses also rose to Rs 4,074 crore from Rs 2,848 crore.LIC's solvency ratio improved to 2.35 as of March 31, 2026 compared with 2.11 a year ago. The ratio remained comfortably above the regulatory requirement.The company's expense management ratio improved to 12.52% from 11.15% in the corresponding quarter last year.The insurer reported 13th month persistency ratio of 67.77% compared with 68.62% a year earlier. The 61st month persistency ratio stood at 54.13% against 58.54% in the year-ago period.For FY26, LIC reported profit after tax of Rs 57,453 crore, up 19% from Rs 48,320 crore in FY25. Net premium income for the full year rose 10% to Rs 5.38 lakh crore compared with Rs 4.90 lakh crore a year ago.Policyholders fund excluding linked assets stood at Rs 53.68 lakh crore as of March 31, 2026 compared with Rs 51.64 lakh crore a year earlier. Shareholders investments rose to Rs 1.5 lakh crore from Rs 1.03 lakh crore in FY25.