Life Insurance Corporation Of India

Shatmanyu Shrivastava is a fellow member of the Institute of Chartered Accountants of India (passed in 1989). He is also a fellow of the Insurance Institute of India (passed in 2000). Shrivastava is pursuing actuarial studies and has passed 7 papers of the actuarial examination conducted by the Institute of Actuaries of India. Shatmanyu joined LIC of India as a direct recruit officer in the 18th batch in 1990. In a career spanning over three decades, he has gained wide exposure by working across all departments of the corporation. He has worked in all four tiers of the organizational structure: branch offices, divisional offices, zonal offices, and central office. This wide exposure has enabled him to understand the intricacies of the workings of all departments/offices and their interdependencies. LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country. Life Insurance Corporation of India (LIC) reported a 17.1% jump in standalone net profit to Rs 11,056.47 crore in Q3 FY25 as compared with Rs 9,444.42 crore in Q3 FY24. Net premium fell 8.7% to Rs 1,06,891.48 crore in Q3 FY25 as compared with Rs 1,17,016.93 crore in Q3 FY24. Powered by Capital Market - Live

Life Insurance Corporation of India has appointed Shatmanyu Shrivastava as Chief Risk Officer (Key Managerial Personnel) of the Corporation at board meeting held on 17 March 2025. Powered by Capital Market - Live

Net premium fell 8.7% to Rs 1,06,891.48 crore in Q3 FY25 as compared with Rs 1,17,016.93 crore in Q3 FY24. Profit before tax (PBT) increased 17.8% YoY to Rs 12,751.25 crore during the quarter. On nine months basis, the company's standalone net profit increased 7.9% to Rs 29,138.38 crore in Q3 FY25 as compared with Rs 26,913.14 crore in 9M FY24. Net premium increased 5.51% YoY to Rs 3,40,562.61 crore in 9M FY25. On an annualized premium equivalent (APE) basis, the total premium was Rs 37,975 crore for the nine months period ended December 31st, 2024. Of this 64.81% (Rs 24,612 crore) was accounted for by the Individual Business and 35.19% (Rs 13,363 crore) by the Group Business. The value of new business (VNB) for the nine months period ended December 31st, 2024 was Rs 6,477 crore as compared to Rs 5,938 crore for the nine months period ended December 31st, 2023, registering a growth of 9.08%. The assets under management (AUM) increased to Rs 54,77,651 crore as on 31st December 2024 as compared to Rs 49,66,371 crore on 31st December 2023 registering an increase of 10.29% year on year. State'run life insurer sold 1,17,10,505 policies during the nine months period ended 31st December 2024, registering the de-growth of 6.73% as compared to 1,25,56,046 policies sold during the nine months period ended 31st December 2023. For the nine months period ended December 31st, 2024, the persistency ratios on premium basis for the 13th month and 61st month were 76.66% and 61.84%, respectively. The comparable persistency ratios for the corresponding period ended December 31st, 2023 were 78% and 62.40%, respectively For the nine months period ended December 31st, 2024, the persistency ratios on number of policies basis for the 13th month and 61st month were 66.47% and 49.22%, respectively. The comparable persistency ratios for the corresponding period ended December 31st , 2023 were 67.22% and 50.23%, respectively. The solvency ratio as on December 31st, 2024 increased to 2.02 as against 1.93 on December 31st, 2023. The overall expense ratio for the nine months period ended December 31st, 2024 decreased by 231 bps to 12.97% as compared to 15.28% for the nine months period ended December 31st 2023. In terms of market share measured by first year premium income (FYPI) (as per IRDAI), LIC continues to be the market leader in Indian life insurance business with overall market share of 57.42% for nine months ended December 31st 2024 as compared to 58.90% for nine months ended December 31st 2023. Siddhartha Mohanty, CEO & MD, LIC said, 'Our focus and strategy remains consistent towards changing our product and channel mix to serve the needs of our customers, in a dynamic environment. For the nine months period ended December 31st 2024, the Non Par share within the individual business increased to 27.68%, on an APE basis, as compared to 14.04% for the same period last year.Further, the VNB margin has also improved to 17.1% for the nine months period ended December 31st 2024, as compared to 16.6% for the same period last year. LIC's Bima Sakhi Yojana, for empowerment of women by offering them career in insurance sales as an agent, was launched by Hon'ble Prime Minister on 9th December 2024. Till date more than 1.25 lakh women have been registered and more than 70,000 have been appointed as Bima Sakhis. In coming months, the outcomes of our digital transformation initiatives will be visible. We remain thankful to all our stakeholders for their support as we adapt, reimagine and realign our business to a fast changing industry scenario.' Meanwhile, the company's executive committee has renewed the term of Sunil Agrawal as the chief financial officer (CFO) for one year, i.e., upto 1 March 2026. LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country. The scrip declined 1.56% to end at Rs 815.95 on Friday, 8 February 2025.Powered by Capital Market - Live

Net profit of Life Insurance Corporation of India rose 16.26% to Rs 11008.65 crore in the quarter ended December 2024 as against Rs 9468.99 crore during the previous quarter ended December 2023. Sales declined 8.63% to Rs 107302.30 crore in the quarter ended December 2024 as against Rs 117431.94 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales107302.30117431.94 -9 OPM %10.627.87 - PBDT12213.049445.20 29 PBT12213.049445.20 29 NP11008.659468.99 16 Powered by Capital Market - Live

Net profit of Life Insurance Corporation of India rose 17.07% to Rs 11056.47 crore in the quarter ended December 2024 as against Rs 9444.42 crore during the previous quarter ended December 2023. Sales declined 8.65% to Rs 106891.48 crore in the quarter ended December 2024 as against Rs 117016.93 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales106891.48117016.93 -9 OPM %11.219.11 - PBDT12751.2510827.20 18 PBT12751.2510827.20 18 NP11056.479444.42 17 Powered by Capital Market - Live

Life Insurance Corporation of India will hold a meeting of the Board of Directors of the Company on 7 February 2025.Powered by Capital Market - Live

Life Insurance Corporation of India has increased its shareholding in equity shares of Asian Paints from 4,79,66,302 to 6,72,40,527 i.e., 5.001% to 7.010% of the paid-up capital of the said CompanyPowered by Capital Market - Live

Shares of Life Insurance Corporation of India have risen 12% in six session from its close of Rs 882.25 on 21 November 2024. The stock is up 47% in one year. Meanwhile the insurer clarified on the media reports suggesting that it is in talks with ManipalCigna Health Insurance for a potential 50% stake acquisition. In a regulatory filing, LIC clarified that while it continuously evaluates and explores strategic opportunities across various sectors, including health insurance, there is no material information to disclose at this time. In a separate development, LIC has challenged a GST demand of Rs 66.69 lakh for FY 2019-20, along with interest and a penalty of Rs 6.67 lakh, imposed by the tax authorities in Jammu and Kashmir. The company has assured that the financial impact of this demand is limited and will not significantly affect its overall operations. LIC is the largest life insurer in the country. On a consolidated basis, its net profit declined 3.8% to Rs 7728.68 crore while total income rose 14.1% to Rs 231926.41 crore in Q2 September 2024 over Q2 September 2023. Powered by Capital Market - Live

The move involved the acquisition of 1,25,000 equity shares through an open market purchase at an average price of Rs 1,764.96 per share via open market purchase. LIC's holding in the Patanjali Foods touched 5% on 26 November 2024. Patanjali Foods (formerly known as Ruchi Soya Industries) is one of India's top FMCG player in India. The company is present in Edible Oils, Food & FMCG and Wind Power Generation segments via a bouquet of brands like Patanjali, Ruchi Gold, Nutrela, etc. LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country. Shares of LIC rose 0.57% to Rs 912.55 while Patanjali Foods shed 0.11% to Rs 1,752.95 on the BSE.Powered by Capital Market - Live

LIC acquired the stake at an average price of Rs 4,950.807 per share from 20 March 2024 to 19 November 2024. The deal was in the ordinary course of action, said LIC in the exchange filing. The release came post market close on Thursday 21 November 2024. LTI Mindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. LTI Mindtree a Larsen & Toubro Group company combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country. Shares of LIC rose 0.48% to Rs 886.50 while LTI Mindtree added 1.06% to Rs 5,992 on the BSE.Powered by Capital Market - Live