Life Insurance News

Corporation of India (LIC) has invested Rs. 5,000 crore in State Bank of India's Rs. 25,000 crore Qualified Institutional Placement (QIP), raising its stake in the bank to 9.21%.

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LIC invests Rs. 5,000 crore in SBI's Rs. 25,000 crore QIP, stake risesLife Insurance

SBI announced that the QIP received strong interest, being subscribed 4.5 times, with global investors accounting for 64.3% of the bids and receiving one-third of the allocation. The remaining two-thirds were allotted to domestic investors, led by LIC.

This strategic investment enhances LIC's influence in India's largest public sector bank and reflects growing confidence among institutional investors in the banking sector's long-term growth trajectory. The QIP proceeds will support SBI's growth plans, strengthen its capital adequacy, and expand its lending capacity across retail, MSME, and infrastructure sectors.

ICICI Prudential Life's Q1 profit jumps 34%, premium income up 8%

ICICI Prudential Life Insurance reported a 34% year-on-year rise in net profit to Rs. 302 crore in Q1FY26, up from Rs. 225.4 crore, driven by increased premium income and lower expenses. Net premium income rose 8% to Rs. 8,503 crore.

However, the insurer's Annualised Premium Equivalent (APE) declined by 5% to Rs. 1,864 crore, while the Value of New Business (VNB) dipped 3.18% to Rs. 457 crore. The VNB margin contracted slightly to 24.5% from 25%. Expenses dropped by 4.72% to Rs. 1,891.5 crore. CEO Anup Bagchi highlighted the 24.1% Yo-Y growth in retail protection and a 36.3% rise in the total new business sum assured.

He attributed this to the company's strong distribution and diverse product suite. Despite the fall in APE and VNB, the company continued to prioritise protection-led strategies to sustain long-term profitability and market share.

HDFC Life posts 14% profit rise, market share hits record 12.1%