A man cleans a hoarding of Life Insurance Corporation of India (LIC) before the start of a news conference about the LIC initial public offering (IPO) launch, in Kolkata, India, April 29, 2022. REUTERS/Rupak De Chowdhuri/File Photo
| Photo Credit: RUPAK DE CHOWDHURI
The Life Insurance Corporation of India (LIC) reported standalone net profit rose more than 23% in March quarter to ₹23,420.43 crore from the ₹19,012.79 crore a year earlier.The higher profit came on an over 14% increase in total income to ₹2,76,827.17 crore (₹2,41.625.02 crore), which included net premium income of ₹1,64,691.21 crore (₹1,47,585.56 crore). Income from investment stood at ₹1,09,022.04 crore (₹93,132.67 crore).For the year ended March (FY26), net profit increased 19.25% to ₹57,419 crore (₹48,151 crore). Total income rose to ₹9,73,288.26 crore (₹8,84,148.22 crore). Total premium income was almost 10% higher at ₹5,35,984 crore (₹4,88,148 crore).CEO and MD R.Doraiswamy said with strong overall growth across every business vertical leading to record performance metrics 2025-26 has been a satisfying year. LIC achieved a non par share on APE basis in the individual business of more than 35% and its VNB margin is above 21% for the year.VNB increased 41.63% to ₹14,179 crore, while Assets under management (AUM) rose 5.08% to ₹57,29,396 crore.₹10 dividendThe State-owned insurer’s Board declared a final dividend of ₹10 per equity share, for the fiscal, and set June 25 as the record date for ascertaining the eligibility of the shareholders. For the 1:1 bonus equity share issue, announced last month, it fixed May 29 as the record date.LIC’s market share, measured by first year premium income, was 56.66% for FY26 compared to 57.05% in FY25. To queries, on the market share and more competition likely in the face of India permitting 100% foreign direct investment in insurance, he said the 100% FDI is likely to see more players and intensify competition but with it “markets will grow and we will continue to grow.”Tough timesOn the impact of the West Asia crisis, he said every sector is expected to be impacted and savings through insurance can certainly be impacted. “We are in tough times... [nevertheless] will try to move towards our targetted, double digit new premium growth... expect growth in renewal premium [to continue].”The company’s strategy of channel diversification has been successful with Banca and Alternate Channels (BAC) recording a growth rate of more than 45% with premium from BAC exceeding ₹5,000 crore in FY26. The company is preparing to implement Indian Accounting Standards (IndAS) norms and remains confident about implementing within allowed regulatory time frames, Mr.Doraiswamy said. Published - May 21, 2026 08:52 pm IST
