LIC Records 13.8% Jump In Group Premium During May|Economy News

New Delhi: Life Insurance Corporation of India (LIC), the nation’s biggest life insurance firm, reported a 13.79 percent year-on-year boost in team costs for May this year. For the very first 2 months of the fiscal year 2025-2026, team costs expanded 13.66 percent, information launched by the Life Insurance Council revealed onMonday

In May, LIC gathered Rs 14,374.87 crore in team costs up from Rs 12,632.26 crore in May 2024. The total brand-new service costs expanded 10.27 percent from Rs 16,690.39 crore in May 2024 to Rs 18,405.04 crore in May this year.

The total life insurance policy sector gathered Rs 30,463.20 crore, noting an 12.68 percent surge over Rs 27,034.14 crore gathered in the exact same month in 2014. In the Individual Premium group, LIC uploaded a small decrease of 0.69 percent, accumulating Rs 4,030.17 crore in May 2025 contrasted to Rs 4,058.13 crore in May 2024.

Total plans released by LIC throughout May this year stood at 10.68 lakh contrasted to 12.51 lakh in the exact same duration in 2014. While specific plans phoned number 10.67 lakh for the month contrasted to 12.48 lakh in May 2024. Group plans stood at 1,389 in the month compared to 2,279 for the month of May 2024. .
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Total Premium gathered by LIC for the April-May 2025, stood at Rs 32,015.68 crore up from Rs 29,074.03 crore for the exact same months in 2014. In the Individual Premium sector totaled up to Rs 7,191.04 crore, below Rs 7,233.61 crore in the exact same duration in 2014. The Group Premium sector totaled up to Rs 24,824.64 crore for the April-May 2025, up from Rs 21,840.42 crore in the previous year. .
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LIC released a complete plan of 17.94 lakh for the months of April and May 2025 compared to 21.07 lakh plans in the exact same duration in 2014. Policies for the Individual Category stood at 17.91 lakh in the April-May 2025, compared to 21.03 lakh in the April-May 2024. Group Policies stood at 2,558 in the April-May 2025 compared to 3,704 plans in the April-May 2024. .
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LIC reported a durable 38 percent YoY development in Q4 FY25 combined web earnings, getting to Rs 19,039 crore, and revealed a last reward of Rs 12 per share. While web costs earnings saw a small dip, the complete fiscal year experienced an 18 percent boost in rub to Rs 48,151 crore. A bonus offer of Rs 56,190.24 crore was proclaimed to insurance policy holders.