April 24, 2025: Life Insurance Corporation of India (LIC), the country’s largest life insurer, garnered Rs 2,26,669.91 crore in New Business Premium for FY25, which includes a record Rs 62,404.58 crore from individual new business.
Individual New Business Premium for FY25 registered a growth of 8.35% Year on Year basis, according to data from the Life Insurance Council.
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LIC’s New Business Premium |
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|
Fiscal Years |
New Business Premium (Rs cr) |
New Business Premium (Rs cr) |
% Change |
|
FY15 |
78,302.82 |
90,123.75 |
-13.12 |
|
FY16 |
97,674.31 |
78,302.82 |
24.74 |
|
FY17 |
1,24,396.27 |
97,674.31 |
27.36 |
|
FY18 |
1,34,551.69 |
1,24,036.26 |
8.48 |
|
FY19 |
1,42,191.69 |
1,34,551.69 |
5.68 |
|
FY20 |
1,77,977.06 |
1,42,254.67 |
25.11 |
|
FY21 |
1,84,174.57 |
1,77,977.06 |
3.48 |
|
FY22 |
1,98,759.86 |
1,84,174.57 |
7.92 |
|
FY23 |
2,31,899.16 |
1,98,759.86 |
16.67 |
|
FY24 |
2,22,523.01 |
2,31,899.16 |
-4.04 |
|
FY25 |
2,26,669.91 |
2,22,523.01 |
1.86 |
|
Source: Life Insurance Council |
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For FY25, The Group Premium fell 0.40%, to Rs 1,64,265.34 crore from Rs 1,64,925.89 crore last year.
For FY25, LIC sold 1.78 crore new policies, despite the introduction of new surrender value norms effective from 1st October 2024.
Looking at segment-specific performance in March 2025, the Individual Premium segment saw a 10.75% rise, totalling Rs 10,022 crore, up from Rs 9,048.87 crore in March 2024. Conversely, the Group Premium fell by 1.34% to Rs 26,885.33 crore from Rs 27,251.74 crore last year.
