Life Insurance Corporation of India(LICI)

NSE: LICIBSE: 543526

₹ 380.35-1.69%refreshed 23 Oct, 03:56 pm ISTMarket cap: ₹ 4.81 L crNext results: 5 Nov 2026Website: www.licindia.inUpdated: 24 Oct 2026

About

Life Insurance Corporation of India (LIC) is India's largest life insurer, offering individual and group life insurance across par, non-par, ULIP, protection, and annuity product lines. LIC held a 60.10% market share by first-year premium in Q1 FY27 and managed an AUM of ₹59,39,384 crore as of that quarter. Its Indian Embedded Value stood at ₹7,89,185 crore as of March 2026, and it reported a PAT of ₹57,419 crore for FY26.^[1][2][3]

Product mix

Individual APE split in Q1 FY27: par ₹5,085 crore and non-par ₹2,447 crore, with non-par accounting for 32.49% of individual APE, up from 30.34% in Q1 FY26.^[1]
For full-year FY26, non-par share of individual APE rose to 35.11% from 27.69% in FY25, with non-par APE growing 43.78% YoY to ₹15,214 crore.^[2]
ULIP APE fell 17.04% YoY to ₹769 crore in Q1 FY27, attributed to high equity market volatility; ULIP had surged 63.48% YoY to ₹6,150 crore in full-year FY26.^[1][2]
Individual protection APE grew 43.59% YoY in Q1 FY27, while individual non-par savings APE grew 59.24% YoY, both contributing to VNB margin expansion.^[1]

Value of new business and embedded value

Net VNB grew 61.32% YoY to ₹3,136 crore in Q1 FY27, and net VNB margin expanded 750 bps YoY to 22.9%, from 15.4% in Q1 FY26.^[1]
For full-year FY26, net VNB grew 41.63% YoY to ₹14,179 crore and VNB margin expanded 360 bps to 21.2%, both records since listing.^[2]
Indian Embedded Value (IEV) stood at ₹7,89,185 crore as of March 2026, up 1.58% from March 2025.^[1]

Key operating metrics

Total APE grew 8.22% YoY to ₹13,692 crore in Q1 FY27; individual APE grew 6.67% YoY to ₹7,532 crore.^[1]
Individual new business premium grew 14.48% YoY to ₹14,351 crore in Q1 FY27, versus ₹12,536 crore in Q1 FY26.^[1]
Solvency ratio improved to 2.42 in Q1 FY27, up 0.25 points YoY, well above the regulatory minimum.^[1]
Overall expense ratio was 10.63% in Q1 FY27, up 16 bps YoY; full-year FY26 expense ratio was 11.91%, down 51 bps YoY and the lowest since the May 2022 IPO.^[1][2]
Market share by first-year premium was 60.10% in Q1 FY27, down 3.41 percentage points YoY.^[1]

Persistency

13th-month persistency (premium basis) was 75.33% in Q1 FY27, down 0.30 percentage points YoY.^[1]
61st-month persistency (premium basis) was 61.12% in Q1 FY27, down 2.73 percentage points YoY.^[1]

Distribution and agency

Agency channel contributed 98.42% of policies sold and 91.75% of individual new business premium in FY26; LIC sold 1,84,41,175 individual policies in FY26, up 3.7% from FY25.^[2]
Bancassurance and Alternate Channels reached ₹5,076 crore of new business premium in FY26, up 45.19% YoY; bancassurance share of individual NBP rose to 7.51% from 5.59%.^[2]
Bancassurance NBP from banks fell 8.62% YoY to ₹483 crore in Q1 FY27, attributed to West Asia conflict reducing remittances and dampening annuity and ULIP sales.^[1]
Bima Sakhi Yojana: as of June 30, 2026, 2.87 lakh women designated as Bima Sakhis covering 1,51,620 of 2,44,876 gram panchayats (62%), having sold 4.52 lakh policies generating ₹656.91 crore NBP.^[1]

Digital initiatives

MyLIC (customer self-service) and Super Sales Saathi (agent workspace) apps launched in April 2026 under the DIVE (Digital Innovation and Value Enhancement) initiative.^[1]
Ananda app policies grew 25.56% YoY to 4.37 lakh in Q1 FY27, with active agent count on the app up 16.29% YoY; for full-year FY26, Ananda policies grew 56.08% to 23,00,983, representing 12.48% of total individual policies.^[1][2]

Recent developments

Government of India sold a 6.5% stake in LIC via an offer-for-sale, lifting public float to 10% and making LIC compliant with minimum public shareholding norms.^[1]
Shri Dinesh Pant ceased to be Managing Director and Key Managerial Personnel of LIC effective September 24, 2026, following his voluntary retirement.^[4]

Market Cap

₹4,81,143 Cr

High / Low

₹468 / 361

Stock P/E

8.4

Price / Book

2.8

Book Value

₹281

EPS

₹45.4

No. of Shares

632.5 Cr

ROE

37.8%

Sales

₹5,38,379 Cr

Net Profit

₹57,453 Cr

Promoter holding

90.0%

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Life Insurance Corporation of India(LICI)

About

Product mix

Value of new business and embedded value

Key operating metrics

Persistency

Distribution and agency

Digital initiatives

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