LIC share price: Shares of Life Insurance Corporation of India (LIC) were trading in the negative zone on Monday after the state-owned insurer announced its financial results for the third quarter of the current fiscal year.
The stock fell 0.86% to ₹809.10 at 12:03 pm on the National Stock Exchange (NSE).
LIC Q3 results
LIC reported a 17% rise in its profit after tax (PAT) in the December quarter to ₹11,056 crore compared to ₹9,444 crore a year ago.
However, net premium income or NPI stood at ₹1,06,891 crore in the quarter under review, down 8.65% from ₹1,17,017 crore in the same period a year ago.
Total income declined by 4.92% to ₹2,01,994 crore in Q3 FY25 as against ₹2,12,447 crore in the same period last fiscal. During the quarter, expenses declined to ₹14,416 crore from ₹18,194 crore in Q3 FY24. Siddhartha Mohanty, Managing Director and CEO, LIC said, “Our focus and strategy remains towards transforming our product and channel mix to meet the needs of our customers in a dynamic environment.”
According to the Insurance Regulatory and Development Authority of India (IRDAI), LIC continues to be the market leader in the Indian life insurance business, in terms of market share measured by first-year premium income (FYPI). Its overall market share for the nine months ended December 2024 is 57.42%.
Assets under management, or AUM, grew 10% to ₹54,77,651 crore as of December 2024, compared to ₹49,66,371 crore as of December 31, 2023. Solvency ratio improved to 2.02 from 1.93 as of December 31, 2023. Mohanty said, “LIC is committed to serving the society through higher insurance coverage in the country.
LIC’s Bima Sakhi scheme, for empowerment of women by offering them a career in insurance sales as an agent, was launched by the Hon’ble Prime Minister on 9th December 2024. So far, more than 1.25 lakh women have been registered and over 70,000 have been appointed as Bima Sakhis.”
