LIC Tops Market with 57% Share in FY25 Premiums, Collects Rs 2.27 Trillion, Individual Business Grows 8.35%

Life Insurance Corporation of India (LIC), the country's largest life insurer collected a record Rs 62,404.58 crore in individual new business and Rs 2.27 Trillion or 2,26,669.91 crore in overall new business premiums in FY2025, marking an 8.35% year-on-year (YoY) growth in Individual New Business Premium, according to data available on the official page of the Life Insurance Council.

In FY25, LIC reported the largest individual premium in the life insurance sector, totalling Rs 62,405 crore, based on ten years of data accessible on the Life Insurance Council. With a 57.05% market share overall, LIC is the overall market leader in the Indian life insurance sector. LIC sold 1.78 crore new insurance for FY25, even though stricter surrender value standards went into effect on October 1, 2024.

The Group Premium decreased 0.40% from Rs 1,64,925.89 crore to Rs 1,64,265.34 crore for FY25.

LIC Premium Segment Wise Performance in FY25

Looking at segment-specific performance, the Individual Premium category witnessed a 10.75% increase in March 2025, reaching Rs 10,022 crore from Rs 9,048.87 crore in March 2024. In contrast, last year's Group Premium dropped from Rs 27,251.74 crore to Rs 26,885.33 crore, a 1.34% decrease.

LIC Premium Performance FY20-FY25: 5-Year Growth Snapshot

The country's largest life insurer, LIC has recorded a steady rise in its new business premium collections over the past five years, with a few ups and downs.

In FY20, LIC collected Rs 1,77,977.06 crore, showing a strong growth of 25.11% from the previous year. The following year, FY21, the growth slowed down to 3.48%, with premiums totaling Rs 1,84,174.57 crore.

The upward trend continued in FY22, when new business premium rose by 7.92% to Rs 1,98,759.86 crore. In FY23, LIC saw one of its strongest performances, with collections touching Rs 2,31,899.16 crore, marking a 16.67% growth.

However, in FY24, there was a slight drop, as premiums fell by 4.04% to Rs 2,22,523.01 crore. In the latest fiscal, FY25, LIC bounced back with a modest growth of 1.86%, collecting Rs 2,26,669.91 crore in new business premiums.

About LIC

The Indian government founded LIC as a statutory organisation in 1956 to offer financial services and life insurance. Being the biggest insurance provider and institutional investor in India, it plays a significant role in promoting life insurance across the country, particularly in rural areas.