Net profit increased to ₹23,467 crore from ₹19,039 crore in the corresponding quarter last year. The board also approved a dividend of ₹10 per equity share.
The insurer’s solvency ratio improved to 2.35% during the quarter, compared with 2.11% a year earlier and 2.19% in the previous quarter, reflecting a stronger capital position.
Assets under management rose 5.1% year-on-year to ₹57.3 lakh crore, while value of new business (VNB) surged 41.63% to ₹14,179 crore, indicating improved profitability from fresh policy sales.
However, LIC’s 13th-month persistency ratio weakened to 67.77% compared with both the year-ago period and the previous quarter, signalling some pressure on policy retention.
Commenting on the performance, R Doraiswamy said FY26 had been a “satisfying year” for the insurer, with strong growth across business verticals driving record operational metrics.
“We have achieved a non-par share on APE basis in our individual business of more than 35% and our VNB margin is more than 21% for the year,” he said.
Doraiswamy added that LIC’s channel diversification strategy had delivered strong results, with banca and alternate channels recording growth of over 45%, while premium collections from those channels crossed ₹5,000 crore during FY26.
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He also highlighted that VNB growth exceeded 41% during the year and noted the company’s recently announced 1:1 bonus issue aimed at rewarding shareholders.
Shares of LIC settled at ₹804 apiece on the NSE on May 21, up 0.43% or ₹3.45 from the previous close.
