New Delhi, May 13 (H.S.): The country’s largest life insurance company, Life Insurance Corporation of India (LIC), has recorded an annual increase of 9.91% in new business premium (NBP) for April. This is higher than the overall industry's growth rate of 8.43% and the 6.09% growth rate of private life insurance companies.
According to data released by the Life Insurance Council on Tuesday, LIC collected ₹13,610.63 crore from NBP in April, which is more than ₹12,383.64 crore collected in April 2024. Meanwhile, the overall life insurance industry collected ₹21,965.73 crore in NBP, which is an increase of 8.43% from ₹20,258.86 crore collected in the same period last year. Similarly, private life insurance companies collectively contributed ₹8,355.10 crore, which is 6.09% more than last year’s ₹7,875.22 crore.
The data reflects LIC's strong position and serves as an important indicator of its performance in new business. In the individual premium category, LIC reported a slight decrease of 0.46%. In April 2025, LIC collected ₹3,160.87 crore, while in April 2024, it was ₹3,175.47 crore. However, the group premium segment recorded a strong growth of 13.48%, increasing from ₹9,208.17 crore a year ago to ₹10,449.76 crore.
According to the Life Insurance Council, the total number of policies issued by LIC in April decreased to 7.26 lakh from 8.56 lakh last year, with the number of individual policies dropping to 7.24 lakh from 8.55 lakh, and the number of group policies remaining at 1,169, compared to 1,425 in April 2024. For the four-month period from January to April 2025, LIC's total premium collection was ₹82,324.58 crore, which is lower than ₹87,500.97 crore collected in the same period last year.
Additionally, the individual premium segment increased from ₹22,164.24 crore to ₹23,188.46 crore, while the group premium segment decreased from ₹65,336.73 crore to ₹59,136.12 crore. There was also a decline in the total number of policies issued during the January-April period, which fell from 87.05 lakh last year to 68.05 lakh this year.
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Hindusthan Samachar / Jun Sarkar
