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Strong H2FY26 growth may drive rerating in LIC
Business Standard
|November 08, 2025
Life Insurance Corporation of India (LIC) had a positive surprise on annual premium equivalent (APE) growth (up 3 percent year-on-year or Yo-Y), with group business up 20 per cent. Value of new business (VNB) grew 12 per cent.
The product mix has improved with higher sum-assured and non-partici-pating or non-PAR policies aligned with new surrender guidelines. In Q2FY26, LIC reported net premium income of %1.3 trillion, up 5 percent.
Renewal premium grew 5 percent to %65,000 crore and single premium grew 8 per cent to 50,800 crore. First-year premium declined 3 per cent to 10,800 crore. New business APE declined 1 per cent to %16,400 crore cent to %6,270 crore. For H1FY26, APE grew 4 per cent to 29,030 crore. The absolute VNB grew 8 per cent to 3,200 crore and VNB margin expanded to 19.3 per cent in Q2FY26 from 17.9 per cent in Q2FY25. For H1FY26, VNB grew 12 per cent to %5,100 crore, with a VNB margin of 17.6 per cent (up 140 basis points).
This story is from the November 08, 2025 edition of Business Standard.
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