Q4 2026 Life Insurance Corporation Of India Earnings Call Transcript
Key Points
- Life Insurance Corporation of India (BOM:543526) maintained its leadership in the Indian insurance market with a market share of 56.66% by first-year premium income.
- The company reported a total premium income growth of 9.8% year-on-year, reaching INR535,984 crores.
- Profit after tax increased by 19.25% year-on-year to INR57,419 crores, marking the highest PAT in the company's history.
- Value of New Business (VNB) grew by 41.63% year-on-year, with VNB margins improving by 360 basis points to 21.2%.
- Bancassurance and Alternate Channels saw a significant growth of 45.19% year-on-year, crossing the INR5,000 crores mark for the first time.
- The market share for individual business decreased from 37.46% to 36.6%, and for group business from 71.19% to 70.11% year-on-year.
- The number of individual agents decreased from 1,486,851 to 1,457,045, with the market share by number of agents dropping from 47.61% to 44.25%.
- Persistency rates showed a decline in certain cohorts, particularly in the 61st month, which dropped from 63.12% to 59.31% on a premium basis.
- The overall expense ratio decreased only slightly by 51 basis points to 11.91%, indicating limited improvement in cost efficiency.
- The company faced challenges with volatility in equity markets, impacting the fair value of investments and contributing to a decline in the credit debit fair value change.
Ladies and gentlemen, good evening, and welcome to the LIC's FY26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
We have 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, CEO and MD, LIC. Thank you, and over to you, Mr. Doraiswamy.
Good evening, everyone. I'm R. Doraiswamy, Chief Executive Officer and Managing Director, LIC. I would like to welcome all of you to the results and performance update for the year ended March 31, 2026. I also extend my gratitude to you for joining this call in the later hours of the evening today. 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 the Managing Director, Shri Dinesh Pant, Shri Ratnakar Patnaik, Shri
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