Life Insurance Corporation of India (LICI) Q1 25/26 earnings summary

Executive summary

• Q1FY26 total premium income grew 4.77% year-on-year to ₹119,200 crore, with market share rising to 63.51% in premium and 63.07% in policies.

• Profit after tax increased 5.02% year-on-year to ₹10,986 crore.

• Embedded Value (IEV) rose 6.81% year-on-year to ₹7,76,876 crore.

• Board approved unaudited results for Q1FY26, reviewed by independent auditors with no material misstatements.

• Continued focus on digital transformation, agency productivity, and expanding non-par product share.

Financial highlights

• Individual new business premium grew 5.42% year-on-year to ₹12,536 crore; renewal premium (individual) up 6.58% to ₹58,938 crore.

• Assets under management increased 6.47% year-on-year to ₹57.05 lakh crore.

• Net VNB margin improved by 150 bps to 15.4%; net VNB grew 20.75% year-on-year to ₹1,944 crore.

• Expense ratio decreased by 140 bps to 10.47% from 11.87% year-on-year.

• Total death claims paid rose 7.5% to ₹5,877 crore; maturity claims paid up 20.57% to ₹50,584 crore.

Outlook and guidance

• Management expects continued growth in premium and APE, with stronger performance anticipated in the second half.

• Focus on digital transformation, maximizing investment yield, and expanding non-par products and distribution channels.

• Human resource strategy aligned to new skills and emerging market demands.