LIC outpaces industry in April with nearly 10% growth in New Business Premium

Life Insurance Corporation of India (LIC) reported a 9.91 percent year-on-year rise in new business premium (NBP) collections for April 2025, outpacing the overall industry growth rate of 8.43 percent and private life insurers’ growth of 6.09 percent.

According to data released by the Life Insurance Council, LIC collected Rs 13,610.63 crore in NBP for the month, up from Rs 12,383.64 crore in April 2024.

The life insurance industry as a whole recorded Rs 21,965.73 crore in NBP, compared to Rs 20,258.86 crore last year, while private life insurers together posted Rs 8,355.10 crore, an increase from Rs 7,875.22 crore.

Despite the strong overall growth, LIC’s individual premium collections saw a slight dip of 0.46 percent, standing at Rs 3,160.87 crore compared to Rs 3,175.47 crore a year earlier.

However, the Group Premium segment surged 13.48 percent to Rs 10,449.76 crore from Rs 9,208.17 crore, contributing significantly to the month’s overall performance.

The number of total policies issued by LIC in April fell to 7.26 lakh from 8.56 lakh, with individual policies down to 7.24 lakh from 8.55 lakh and group policies at 1,169, down from 1,425 in April 2024.

For the four-month period from January to April 2025, LIC’s total premium collections stood at Rs 82,324.58 crore, lower than Rs 87,500.97 crore during the same period last year.

Within this, the Individual Premium segment rose to Rs 23,188.46 crore from Rs 22,164.24 crore, while the Group Premium segment declined to Rs 59,136.12 crore from Rs 65,336.73 crore.

Total policies issued during the January–April period also declined, from 87.05 lakh last year to 68.05 lakh this year.