Kolkata, May 13 (UNI) Life Insurance Corporation of India (LIC), the country’s largest life insurer, reported a 9.91 percent year-on-year (YoY) increase in new business premium for April 2025—surpassing the industry growth rate of 8.43 pc and private life insurers’ growth of 6.09 pc, as per data released by the Life Insurance Council.
In April 2025, LIC collected Rs 13,610.63 crore in new business premiums, up from Rs 12,383.64 crore in April 2024. The overall life insurance industry garnered Rs 21,965.73 crore, marking an 8.43 pc rise over Rs 20,258.86 crore collected in the same month last year. Private life insurers contributed Rs 8,355.10 crore, registering a 6.09 pc growth over the previous year’s Rs7,875.22 crore.
In the Individual Premium category, LIC posted a slight decline of 0.46 pc, collecting Rs 3,160.87 crore in April 2025 compared to Rs 3,175.47 crore in April 2024.
However, the Group Premium segment recorded a robust 13.48 pc growth, rising to Rs 10,449.76 crore from Rs 9,208.17 crore a year earlier.
During April 2025, total policies issued by LIC stood at 7.26 lakh from 8.56 lakh in the same period last year. While individual policies were 7.24 lakh policies for April 2025 from 8.55 lakh policies for April 2024, Group Policies stood at 1,169 in April 2025 from 1,425 for April 2024.
Total Premium collected by LIC for the four months January- April 2025, stood at Rs 82,324.58 crore from Rs 87,500.97 crore for the same month last year.
The Individual Premium segment amounted to Rs 23,188.46 crore, compared to Rs22,164.24 crore in the same period last year. The Group Premium segment amounted to Rs 59,136.12 crore for the January-April 2025, from Rs 65,336.73 crore in the previous year.
LIC issued a total policy of 68.05 lakh policies for the four months January-April 2025 from 87.05 lakh policies in the same period last year. Policies for the Individual Category stood at 67.97 lakh.
The January-April 2025, from 86.92 lakh in the January-April 2024. Group Policies stood at 8,930 in the January-April 2025 from 13,248 policies in the January-April 2024.
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