LIC Q3 profit rises to ₹11,056 cr; AUM up 10% but premium income drops

Life Insurance behemoth Life Insurance Corporation of India (LIC) has reported a 17% rise in its standalone net profit to ₹11,056 crore in the October-December quarter, up from ₹9,444 crore in the year-ago period, according to an exchange filing.

LIC's net premium income dropped 9% to ₹1.07 lakh crore on a 24% fall in single premiums and a 14% drop in first-year premium collection.

For the nine months ending December 2024, LIC saw PAT at ₹29,138 crore as compared to ₹26,913 crore for the nine months ended December 31st, 2023, a growth of 8.27%.

LIC says it continues to be the market leader in Indian life insurance business with an overall market share of 57.42% as of the fiscal year so far (December 31, 2024) compared to 58.90% for nine months ended December 31st 2023.

In individual and group business, LIC's market share was 37.21% and 71.70% for the nine months ended December 31, 2024.

The total premium income as of December 31, 2025, was ₹3,40,563 crore as compared to ₹3,22,776 crore in the year-ago period, a growth of 5.51%.

As of FY25 till December 31, 2024, LIC's individual new business premium income was ₹42,441 crores, up from ₹38,679 crore in the year-ago period, an increase of 9.73%. The individual renewal premium stood at Rs. 1,78,975 crore, up from ₹1,71,040 crore a year ago, up 4.64% YoY.

Total individual business premium in the said period increased to ₹2,21,416 crore, up 5.58% to ₹2,09,719 crore, while the group business total premium surged 5.39% to ₹1,19,147 crore as compared to ₹1,13,057 crore for the nine months ended December 31st 2023.

LIC says a total of 1,17,10,505 policies were sold in the individual segment during the nine months ended December 31st, 2024 as compared to 1,25,56,046 policies sold during the nine months ended December 31st, 2023, registering a decrease of 6.73%.

Siddhartha Mohanty, CEO & MD, LIC, says the company's focus and strategy remain consistent towards changing its product and channel mix. "For the nine months ended December 31st 2024, the Non-Par share within the individual business increased to 27.68%, on an APE basis, as compared to 14.04% for the same period last year. Further, the VNB margin has also improved to 17.1% for the nine months ended December 31st 2024, as compared to 16.6% for the same period last year."

He adds that in the coming months, LIC's outcomes of digital transformation initiatives will be visible.

LIC saw its Assets Under Management (AUM) increase to ₹54,77,651 crore as of December 31st, 2024 as compared to ₹49,66,371 crore on December 31st, 2023, a 10.29% growth year on year. Shares of LIC closed 1.56% lower at ₹815.95 as compared to the previous session close on the BSE.