Life Insurance Corp of India reports higher premium income in H1, net profit rises around 22%

Life Insurance Corporation of India (LIC) on Thursday reported a 21.52% year-on-year increase in net profit to Rs 25,568 crore for the first half of FY27, compared with Rs 21,040 crore in the same period last year.

Total premium income rose 11.64% to Rs 2,74,269 crore during the six months ended September 30, 2026, from Rs 2,45,680 crore a year earlier. Individual new business premium income increased 14.86% to Rs 32,725 crore, while renewal premium income grew 4.68% to Rs 1,27,950 crore. Group business premium income rose 19.62% to Rs 1,13,594 crore.

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LIC share price closed at Rs 408 on the NSE on Thursday.

For the second quarter ended September 30, LIC's net premium income rose 16% year-on-year to Rs 1.47 lakh crore. One-time premiums from new policies increased around 35%, while renewal premiums grew by more than 5%, according to agency reports.

LIC's Value of New Business (VNB) increased 33.95% to Rs 6,846 crore in H1 FY27, compared with Rs 5,111 crore in the year-ago period. Its net VNB margin expanded to 22.3% from 17.6%, an increase of 470 basis points.

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The insurer sold 70.97 lakh individual policies during the first half, down 2.25% from 72.61 lakh in the corresponding period last year. Its market share by First Year Premium Income stood at 58.77%, compared with 59.41% a year earlier. Assets under management rose 4.16% to Rs 59,60,941 crore as of September 30, 2026.

India is among the world's fastest-growing insurance markets. However, rising costs have prompted the regulator to propose capping commissions and linking them to product complexity, after commission limits were relaxed in 2023. Analysts had expected LIC to benefit from a low year-ago base, when regulatory changes prompted product modifications and customers delayed purchases ahead of a tax exemption.

Separately, LIC's board approved the appointment of Naga Nalini Kalluri as Chief Compliance Officer and Key Managerial Personnel, effective November 6, 2026.