Q1 2025 Life Insurance Corporation Of India Earnings Call Transcript
Key Points
- Life Insurance Corporation of India (BOM:543526) reported a total premium income of INR1,13,770 crore for Q1 FY25, a 15.66% increase year-on-year.
- The individual new business premium income grew by 13.67% year-on-year, reaching INR11,892 crore.
- The group business total premium income increased by 30.87% year-on-year, reaching INR46,578 crore.
- Profit after tax for Q1 FY25 was INR10,461 crore, a 9.61% increase compared to the same period last year.
- The solvency ratio improved to 1.99 as of June 30, 2024, up from 1.89 the previous year.
- The market share in the individual business segment decreased to 39.27% from 40.84% year-on-year.
- The number of policies sold through the banca and alternate channel declined by 11.39% year-on-year.
- The overall expense ratio, although improved, still stands at 11.87%, indicating room for further cost efficiency.
- Persistency rates for the 37th, 49th, and 61st months showed a decline on a year-on-year basis.
- The agency workforce market share decreased to 48.64% from 50.94% year-on-year.
Ladies and gentlemen, good day, and welcome to the LIC's Q1 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Siddhartha Mohanty, CEO and MD LIC. Thank you, and over to you, sir.
Good morning, everyone. I am Siddhartha Mohanty, CEO and MD LIC. On behalf of the senior management team, I warmly welcome you all to the results and performance update call of Life Insurance Corporation of India for first quarter ended June 30, 2024.
The results and a presentation can be accessed on our website and on websites of both the stock exchanges BSE and NSE. Along with me on this call I have managing directors, Mr. Sat Pal Bhanoo and Mr. Doraiswamy with me.
Senior officials of the corporation present on this call are Mr. Dinesh Pant, Appointed Actuary and Executive Director; and Mr. KR Ashok, Executive Director from the Actuarial team. Mr. R. Sudhakar,
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