Life Insurance Corporation of India (LICI) Q2 24/25 earnings summary

Executive summary

• Total premium income for H1FY25 rose 13.56% year-over-year to INR 233,671 crore, with individual new business premium up 17.29% and group premium up 25.36% year-over-year.

• Market share increased to 61.07% for H1FY25 from 58.50% in H1FY24, with strong leadership in both individual and group segments, and recognized as the world's No.1 strongest insurance brand.

• Embedded Value (IEV) rose 24.01% year-over-year to INR 821,716 crore as of September 2024.

• PAT grew 3.51% year-over-year to INR 18,082 crore; VNB increased 37.74% to INR 4,551 crore, with VNB margin up 160 bps to 16.2%.

• Focused on digital transformation, operational efficiency, and expanding omni-channel distribution.

Financial highlights

• Standalone net premium income for H1 FY25 was INR 233,671 crore, up from INR 205,760 crore year-over-year.

• Standalone net profit after tax for H1 FY25 was INR 18,081.91 crore, compared to INR 17,468.73 crore in H1 FY24.

• Assets under management rose 16.78% to INR 5,539,516 crore.

• Value of New Business (VNB) margin improved to 16.2% from 14.6% year-over-year.

• Indian Embedded Value (IEV) increased 24.01% year-over-year to INR 821,716 crore.

Outlook and guidance

• Management expects continued momentum in Non-Par business and product mix shift, with strategic focus on digital transformation and regulatory readiness.

• New product launches and regulatory compliance are expected to support growth, with a focus on sustainable profitability and persistency.

• Interim results are subject to seasonality and may not reflect full-year trends.