Mumbai, May 22: Life Insurance Corporation of India today announced its standalone and consolidated financial results for the year ended March 31, 2026, reporting strong growth across key operational and financial parameters.
The Corporation posted a Profit After Tax (PAT) of Rs.57,419 crore for FY26, compared to Rs.48,151 crore in FY25, registering a year-on-year growth of 19.25%.
The Board of Directors has recommended a final dividend of Rs.10 per equity share of face value Rs.10 each for FY26, subject to shareholders’ approval at the 5th Annual General Meeting of the Corporation. On a pre-bonus issue basis, the dividend is equivalent to Rs.20 per equity share.
LIC continued to maintain its leadership position in the Indian life insurance sector with an overall market share of 56.66% based on First Year Premium Income , as per IRDAI data. During FY26, the Corporation held a market share of 36.60% in the individual business segment and 70.11% in the group business segment.
The Corporation’s total premium income for FY26 rose 9.80% to Rs.5,35,984 crore, compared to Rs.4,88,148 crore in FY25.
Individual New Business Premium increased 8.29% to Rs.67,676 crore during the year under review, while Individual Renewal Premium rose 5.91% to Rs.2,71,699 crore. Total Individual Business Premium stood at Rs.3,39,375 crore, reflecting a growth of 6.37% over the previous year.
Group Business Premium Income witnessed strong momentum, increasing 16.26% to Rs.1,96,609 crore in FY26 from Rs.1,69,112 crore in FY25.
LIC sold 1,84,41,175 policies in the individual segment during FY26, marking a growth of 3.70% over the previous fiscal.
On an Annualized Premium Equivalent basis, total premium stood at Rs.66,961 crore for FY26. Individual business contributed 64.72% of the total APE, while group business accounted for 35.28%.
The Corporation also witnessed a significant improvement in its non-par business mix. Non-par products contributed 35.11% of Individual Business APE in FY26, compared to 27.69% in FY25. Individual Non-Par APE increased 43.78% year-on-year to Rs.15,214 crore.
LIC’s Value of New Business (VNB) rose sharply by 41.63% to Rs.14,179 crore in FY26 from Rs.10,011 crore in FY25. Net VNB margin improved by 360 basis points to 21.2% during the year.
The solvency ratio improved to 2.35 as of March 31, 2026, compared to 2.11 a year earlier, reinforcing the Corporation’s financial strength.
Assets Under Management (AUM) increased 5.08% year-on-year to Rs.57,29,396 crore as of March 31, 2026.
The overall expense ratio declined by 51 basis points to 11.91% in FY26, while yield on investments on policyholders’ funds excluding unrealized gains improved to 8.92% from 8.65% in FY25.
LIC allocated a bonus of Rs.59,726 crore to policyholders for FY26, compared to Rs.56,190 crore in the previous financial year.
Commenting on the performance, R Doraiswamy, CEO & MD, LIC, said:
Financial Year 2025-26 has been a satisfying year for us, with strong overall growth across every business vertical leading to record performance metrics. We have achieved a Non Par share on APE basis in ourindividual business of more than 35% and our VNB margin is more than 21% for the year. Our strategy of channel diversification has been successful with our Banca and Alternate Channels (BAC) having recorded a growth rate of more than 45% with premium from BAC exceeding Rs. 5,000 Crores in FY26. Finally, it gives me pleasure to mention that our VNB growth has been in excess of 41%. Also recently, we have announced a bonus issue in the ratio of 1:1 to reward our shareholders. With regulatory guidance, we are preparing to implement the Indian Accounting Standards (IndAS) norms and are confident about implementing within allowed regulatory time frames. We are convinced about continuing our growth journey and crossing new milestones in the coming years. As we navigate the insurance markets of India, as the leading life insurance company, in the year 2026, we remain immensely grateful to our almost 200 million policyholders for their continued trust spanning seven decades.”
Key Financial Highlights for FY26
- PAT rises 19.25% to Rs.57,419 crore
- Total premium income grows 9.80% to Rs.5,35,984 crore
- Individual New Business Premium up 8.29% to Rs.67,676 crore
- Group Business Premium increases 16.26% to Rs.1,96,609 crore
- VNB surges 41.63% to Rs.14,179 crore
- Net VNB margin improves to 21.2%
- Solvency ratio strengthens to 2.35
- AUM rises to Rs.57,29,396 crore
- Expense ratio improves by 51 bps to 11.91%
- Bonus allocated to policyholders stands at Rs.59,726 crore