LIC Q3 Results 2026: Net Profit Jumps 17% YoY to Rs 12,930 Crore; Premium Income, VNB and Margins Improve

Life Insurance Corporation of India (LIC), the country's largest life insurer, reported a robust set of numbers for the December quarter of FY26, supported by higher premium income, improved margins and steady investment performance. The insurer announced its unaudited financial results for the quarter and nine months ended December 31, 2025, after a board meeting held on Thursday.

LIC Q3 Results Today: Net Profit Jumps 17% YoY; PAT Rises 28% QoQ

On a consolidated basis, LIC posted a net profit of Rs 12,930 crore in Q3 FY26, marking a 17 percent year-on-year increase from Rs 11,008.65 crore in the corresponding quarter of the previous financial year. Sequentially, profit after tax rose sharply by around 28 percent from Rs 10,098 crore reported in Q2 FY26.

Life Insurance Corporation of India Standalone Profit and Premium Growth

On a standalone basis, LIC reported a net profit of Rs 12,958.22 crore for Q3 FY26, registering a 17.2 percent YoY growth compared with Rs 11,056.47 crore in Q3 FY25. For the nine-month period ended December 31, 2025, standalone net profit stood at Rs 33,998.12 crore, underscoring consistent profitability through the year.

Net premium income for the quarter rose 17.5 percent YoY to Rs 1,25,613.36 crore, compared with Rs 1,06,891.48 crore a year earlier. On a consolidated basis, net premium income stood at Rs 1.26 lakh crore in Q3 FY26, up 17 percent from Q3 FY25, although it dipped marginally by 0.7 percent on a sequential basis.

Investment Income and Business Mix

Income from investments (net) increased 14.1 percent year-on-year to Rs 1,07,608.28 crore in the December quarter, supported by LIC's large and diversified investment portfolio. The strong investment performance continued to provide stability to overall earnings.

Within premium segments, first-year premium showed sharp growth of 45.6 percent to Rs 10,604.60 crore, while single premium rose 30.5 percent to Rs 45,872.85 crore.

LIC Q3 Earnings 2026: IDBI Bank, LIC Housing Finance Drive Rs 1,651 Crore Associate Profit

On a consolidated basis, LIC's Q3 FY26 profit was supported by a share of profit from associates amounting to Rs 1,651.22 crore. This was largely driven by strategic investments in entities such as IDBI Bank and LIC Housing Finance, which continued to contribute positively to the insurer's bottom line.

Segment-wise, the Life Non-Participating (Non-Par) segment emerged as the largest contributor to surplus, generating Rs 11,257.37 crore during the quarter. In contrast, the Life Participating (Par) segment reported a marginal net deficit of Rs 38.98 crore after regulatory adjustments related to past expenses and pension-related liabilities, as noted in the auditors' report.

APE Premium Touches Rs 44,007 Crore as Individual Policies Drive Growth

For the nine months ended December 31, 2025, LIC reported total premium of Rs 44,007 crore on an Annualised Premium Equivalent (APE) basis. Individual Business accounted for Rs 27,552 crore, or 62.61 percent of total APE, while Group Business contributed Rs 16,455 crore, or 37.39 percent.

Within the Individual Business segment, Par products generated APE of Rs 17,507 crore, forming 63.54 percent of the individual portfolio. Non-Par products contributed Rs 10,045 crore, or 36.46 percent and recorded a strong 47.44 percent growth compared with the same nine-month period last year, indicating a strategic shift towards higher-margin products.

LIC Policy Volumes Remain Stable

Policy volumes in the individual segment remained largely stable. LIC sold 1,16,63,856 individual policies by December 31, 2025, compared with 1,17,10,505 policies a year earlier, reflecting a marginal decline of 0.40 percent in policy count even as value and margins improved.

LIC's Value of New Business (VNB) for 9MFY26 rose to Rs 8,288 crore, compared with Rs 6,477 crore in the corresponding period last year, marking a strong growth of 27.96 percent. Net VNB margin improved significantly by 170 basis points to 18.8 percent from 17.1 percent, highlighting better pricing discipline and an improved product mix.

Solvency, AUM and Operating Efficiency

The insurer's balance sheet strength continued to improve, with the solvency ratio rising to 2.19 as of December 31, 2025, from 2.02 a year earlier, remaining well above regulatory requirements. Assets Under Management (AUM) increased to Rs 59.16 lakh crore, up 8.01 percent year-on-year from Rs 54.78 lakh crore.

Operating efficiency also improved during the nine-month period, with the overall expense ratio declining to 11.65 percent from 12.97 percent in the same period last year.