LIC clocks 14.6 pc growth in individual premium for June

New Delhi, July 10 (IANS) Life Insurance Corporation of India (LIC), the country’s largest life insurer, reported a robust 14.6 per cent year-on-year increase in individual premiums for June this year, according to data released by the Life Insurance Council.

The Government-owned company posted a higher growth rate than the corresponding figure of 12.12 per cent for private life insurers during the month.

LIC collected Rs 22,082.37 crore in group premiums in June this year, compared to Rs 23,731.13 crore in June 2024. The overall new business premium fell 3.43 per cent from Rs 28,366.87 crore for the month of June 2024 to Rs 27,395 crore for the month of June 2025.

Total policies issued by LIC during the month stood at 12.49 lakh, compared to 14.65 lakh in June last year. In the individual policies category, LIC issued 12.48 lakh polices for the month compared with 14.62 lakh policies for June 2024. Group Policies stood at 1,290 in the month.

The total premium collected by LIC for the April-June 2025, stood at Rs 59,410.69 crore, up from Rs 57,440.89 crore for the same three months last year. The Individual Premium segment amounted to Rs 12,503.68 crore, compared to Rs 11,869.34 crore in the same period last year, rising 5.34 per cent. The Group Premium segment amounted to Rs 46,907.01 crore for the April-June 2025, compared with Rs 45,571.55 crore in the previous year, up 2.93 per cent.

LIC issued a total of 30.43 lakh policies for the months of April-June 2025, compared to 35.72 lakh policies in the same period last year. Policies for the Individual Category stood at 30.40 lakh in the April-June 2025, compared to 35.65 lakh in the April-June 2024. Group Policies stood at 3,848 in the April-June 2025 compared to 6,531 policies in the April-June 2024.

PSU insurance giant Life Insurance Corporation of India (LIC) ranks 4th among the 10 most valuable brands in India, according to the Brand Finance India 100 2025 report.

The report notes that LIC's 2025 brand value stood at $13.6 billion, up 35.1 per cent from the 2024 brand value of $10.07 billion.

--IANS

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