The LIC (life insurance corporation) shares climbed more than 3 per cent on the National Stock Exchange. Today, the stock opened at Rs 1,155.00 per share on the Indian exchanges.
The life insurance corporation share touched a day-high price of Rs 1,160.00 per share. The stock's 52-week high and all-time high are recorded at same level of Rs. 1,222.00 per share on the National Stock Exchange.
LIC Q1 FY25 earnings
Net profit Q1 FY25
For the quarter ended June 30, 2024, Life Insurance Corporation of India reported a 9.6 per cent year-over-year increase in consolidated net profit at Rs 10,461 crore. In the previous year, the government-owned company declared a combined net profit of Rs 9,544 crore.
Net premium income Q1 FY25
In Q1 FY25, the insurer's net premium income increased by 16 per cent to Rs 1.14 lakh crore, up from Rs 98,755 crore in Q1 FY24.
New business income Q1 FY25
The new business premium income (individual) climbed to Rs. 11,892 crore, a 13.67 percent increase. The total annual premium equivalent (APE) increased to Rs. 11,560 crore, a 21.28 per cent increase. The non-par APE (annual premium equivalent) for individual businesses rose by 166 per cent to Rs 1,615 crore.
Exchange filing |
Total policy sales Q1 FY25
In the individual segment, a total of 35,65,519 policies were sold during the quarter that ended on June 30, 2024, up 10.86 per cent from 32,16,301 policies sold during the quarter that ended on June 30, 2023.
Group Business APE (annual premium equivalent) Q1 FY25
Group Business APE (annual premium equivalent) reached Rs. 4,813 crore, a surge of 34 per cent. The non-par APE share for individual businesses increased to 24 per cent in Q1 FY25 from 10.22 per cent in Q1 FY24.
The value of new business (VNB) rose to Rs 1,610 crore, a 24 per cent increase. The VNB margin (net) rose to 14 per cent, a 20 basis point increase.
Solvency ratio Q1 FY25
The insurer's solvency ratio for the same quarter last year was 1.89 percent; it was 1.99 per cent this time. LIC's gross non-performing asset quality (GNPA) for the quarter was 1.95 percent, down from 2.48 per cent in the previous year.
