New Delhi, 10 July (IANS). The individual premium segment of the country’s largest government insurance company Life Insurance Corporation of India (LIC) has registered a strong growth of 14.6 percent on a annual basis in June 2025. This information was given in the data of the Life Insurance Council released on Thursday.
In this segment, the growth rate of private insurance companies of government insurance company has been more than 12.12 percent.
LIC collected Rs 22,082.37 crore as a group premium in June this year, while in June 2024 the amount was Rs 23,731.13 crore. Overall, the new business premium declined by 3.43 percent to June 2024 to Rs 27,395 crore for June 2025 to Rs 27,395 crore.
The total policies issued by LIC during this month were 12.49 lakhs, compared to 14.65 lakhs in June last year. In the category of individual policies, LIC issued 12.48 lakh policies this month, while for June 2024 the number was 14.62 lakhs. The number of group policies was 1,290 this month.
The total premium collected by LIC for April-June 2025 was Rs 59,410.69 crore, which is more than Rs 57,440.89 crore in the same period last year. The individual segment premium was Rs 12,503.68 crore, compared to Rs 11,869.34 crore in the same period last year, which shows an increase of 5.34 percent.
The group premium segment was Rs 46,907.01 crore for April-June 2025, compared to Rs 45,571.55 crore last year, showing an increase of 2.93 percent.
LIC issued a total of 30.43 lakh policy for the months of April-June 2025, while 35.72 lakh policy was issued in the same period last year. The number of individual category policies in April 2025 was 30.40 lakhs, while in April 2024 the number was 35.65 lakhs. The number of group policies in April-June 2025 was 3,848, while in April 2024 the number was 6,531.
According to a report by Brand Finance India 100, public sector insurance company LIC ranks fourth among the 10 most valuable brands in India.
The report stated that LIC had a brand value of $ 13.6 billion in 2025, which is 35.1 percent more than the brand value of $ 10.07 billion in 2024.
-IANS
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