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Life Insurance News
THE INSURANCE TIMES
|August 2025
LIC's Premium Collection Rises 3.31% in Q1FY26 to Rs. 59,410 Crore
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Life Insurance Corporation of India reported a 3.31% year-on-year growth in total premium collection to Rs. 59,410 crore for the April-June 2025 quarter. Individual premium rose 5.34% to Rs. 12,503 crore, while group premium grew 2.93% to Rs. 46,907 crore.
Despite the increase in premium, policy issuance declined to 30.43 lakh from 35.72 lakh in the same period last year. LIC outperformed private life insurers in June with a 14.60% rise in individual premiums. However, group premium collections for June fell to Rs. 22,082 crore from Rs. 23,731 crore in the previous year.
Overall new business premium declined 3.43% to Rs. 27,395 crore in June 2025. The data suggests that while LIC continues to lead in market share, subdued policy issuance and lower group collections may warrant strategic realignment in its distribution and product mix.
Life Insurance Council Allocates Rs. 450 Crore for Awareness Campaign
The Life Insurance Council has announced a three-year nationwide awareness campaign, 'Sabse Pehle Life Insurance', committing Rs. 150-160 crore annually to enhance life insurance penetration. The Insurance Awareness Committee, comprising 27 insurers and led by Kamlesh Rao, aims to drive behavioural change and boost policy uptake through multimedia efforts.
The campaign follows a dip in life insurance penetration to 2.8% in FY24 from 3% in FY23, despite a 6.1% growth in total premiums to Rs. 8.29 trillion. The new campaign targets three critical segments: protection, annuity, and child savings plans. Advertising veteran Piyush Pandey will guide the initiative as creative mentor.
Regulatory support has also come from IRDAI Member (Life) Swaminathan Iyer, who emphasized the long-term commitment required for impactful change. The campaign, focusing on regional languages and digital-first strategies, comes amid rising concern over the protection gap, especially among individuals aged 18-35.
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