Life Insurance Corporation of India (LICI) Q1 26/27 earnings summary

Executive summary

• Market share by first-year premium income stood at 60.10% for Q1 FY27, down from 63.51% in Q1 FY26, maintaining leadership in both individual and group segments.

• Total premium income grew 6.75% year-over-year to ₹1,27,250 crore.

• Profit after tax rose 22.81% year-over-year to ₹13,492 crore.

• Value of New Business (VNB) margin improved by 750 bps to 22.9%; VNB grew 61.32% year-over-year to ₹3,136 crore.

• Assets under management (AUM) increased 4.10% year-over-year to ₹59,39,384 crore.

Financial highlights

• Individual new business premium income grew 14.48% year-over-year to ₹14,351 crore.

• Group business premium income rose 8.61% year-over-year to ₹51,834 crore.

• Annualized Premium Equivalent (APE) increased 8.22% to ₹13,692 crore.

• Non-par share of individual APE increased to 32.49% from 30.34% year-over-year.

• Weighted received premium (individual) up 18.01% to ₹8,053 crore.

Outlook and guidance

• Management expects continued improvement in VNB margin and profitability, focusing on value-accretive business lines, digital and agency transformation, and operational efficiency.

• Non-par growth is expected to continue, with ULIP recovery dependent on market conditions.

• No formal guidance provided, but margins are expected to improve further from Q1 levels.

• Focus on profitability, market share retention, and human resource alignment with emerging market needs.

• The company aims to maintain strong VNB growth and margin expansion through innovative product launches and distribution strategies.