LIC presented strong results, profit of Rs 10544 crore in the first quarter

LIC Q1 Results: Life Insurance Corporation of India, the country’s largest public sector insurance company, has made a profit of Rs 10,544 crore in the first quarter of the financial year 2024-25. Which is 9 percent more than the first quarter of the last financial year 2023-24. In the first quarter of the last financial year, LIC had a profit of Rs 9635 crore.

While giving information about the quarterly results, LIC said that in the first quarter of the financial year, LIC’s net premium has increased by 16 percent and it has increased from Rs 98,755 crore to Rs 1.14 lakh crore. According to insurance regulator IRDAI, LIC is the country’s largest insurance company in terms of market share according to the first year’s premium income and its total market share has reached 64.02 percent.

In the first quarter of FY 2024-24, LIC’s market share in individual business was 39.27 percent. While the market share in group business was 76.59 percent. Individual business premium stood at Rs 67,192 crore in the first quarter, which is 7.04 percent more than Rs 62,773 crore in the first quarter of the last financial year. Group business premium income stood at Rs 46,578 crore in the first quarter, which was Rs 35,590 crore in the same quarter of the last financial year. LIC’s asset under management has jumped 16 percent to Rs 53.58 lakh crore in this quarter. LIC’s quarterly results have been announced after the market closed and in today’s trading session, LIC’s stock closed at Rs 1125.60 with a jump of 0.18 percent. In the last one year, LIC stock has given a return of 75 percent to the investors, while in 2024, a return of 35 percent has been given.

Earlier, it was reported through media reports that the Government of India may sell 5 percent stake in LIC in 2024-25. On this, LIC told the exchange that Life Insurance Corporation has no information about this.

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