LIC Q2 Results: Profit zooms multifold to Rs 15,952 crore, net premium income rises 27% YoY

Life Insurance Corporation of India on Friday reported standalone net profit of Rs 15,952 crore for the quarter ended September, sharply higher than Rs 1,433 crore a year ago.

Net premium income for the quarter increased 26.6% YoY to Rs 1.32 lakh crore. The net income from investments rose 10% YoY to Rs 84,104 crore.

First year premium income during the quarter rose 11.3% on-year to Rs 9,125 crore. Single premium increased sharply by 62% to Rs 66,901 crore.


The solvency ratio – that measures an insurance company's cash flow in comparison to the amount it owes as total life cover – was at 1.88% as on September 30, similar to that at the end of June quarter.

The country’s largest life insurer’s gross non-performing assets as on September 30 was Rs 26,111 crore, compared with Rs 26,619 crore a quarter ago, and Rs 28,929 crore a year ago.

The gross NPA ratio was down to 5.60% at the end of the second quarter from 5.84% in Q1, and 6.57% a year ago.

LIC’s 13th month persistency ratio - that measures a customer’s stickiness – was 70.52% in Q2, compared to 68.81% a year ago.