Q3 2026 Life Insurance Corporation Of India Earnings Call Transcript
Key Points
- Life Insurance Corporation of India (BOM:543526) reported a 16.68% year-on-year growth in profit after tax for the nine months ended December 31, 2025, reaching INR33,998 crores.
- The company's net Value of New Business (VNB) margin improved by 170 basis points to 18.8% for the nine months ended December 31, 2025.
- Assets under management grew by 8.01% year-on-year, reaching INR59,16,680 crores as of December 31, 2025.
- Bancassurance and alternate channels showed significant growth, with a 66.74% increase in new business premium income year-on-year.
- The solvency ratio improved to 2.19 as of December 31, 2025, up from 2.02 the previous year, indicating a strong financial position.
- The market share by first-year premium income slightly decreased to 57.07% from 57.42% compared to the previous year.
- Persistency ratios showed a decline across various cohorts, with the 13th-month persistency dropping from 76.66% to 75.75% on a premium basis.
- The number of new policies sold decreased slightly from 1,17,10,505 to 1,16,63,856 year-on-year.
- The market share by the number of agents decreased from 47.40% to 45.32% as of December 31, 2025.
- Concerns were raised about the dividend payout ratio being on the lower side despite strong profit growth.
Ladies and gentlemen, good day, and welcome to the LIC's nine months FY26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
We have with us the senior management of LIC, led by Mr. R. Doraiswamy, CEO and MD on this call. I now hand the conference over to Mr. R. Doraiswamy. Thank you, and over to you, sir.
Thank you. Good evening, everyone. I'm Doraiswamy, Chief Executive Officer and Managing Director, LIC. I would like to welcome all of you to the results and performance update call for the nine-month period ended 31 December 2025. Our results declared today have been uploaded along with the press release and the investor presentation on our website as well as the websites of both the exchanges, BSE and NSE.
Along with me on this call, I have three managing directors, Shri Dinesh Pant, Shri Ratnakar Patnaik and Shri R. Chander. Senior officials of the corporation present in this call are
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