Q2 2025 Life Insurance Corporation Of India Earnings Call Transcript
Key Points
- Life Insurance Corporation of India (BOM:543526) reported a total premium income growth of 13.56% year-on-year for the six months ended September 30, 2024.
- The company's market share by first-year premium income increased to 61.07% for the six months ending September 30, 2024, up from 58.50% in the same period last year.
- The net VNB margin improved by 160 basis points to 16.2% for the six months ended September 30, 2024.
- Asset Under Management (AUM) grew by 16.78% year-on-year, reaching INR55,39,516 crore as of September 30, 2024.
- The company launched several new products, including four new non-Par products, contributing to a significant increase in non-Par APE share by 203.37% year-on-year.
- Persistency ratios showed deterioration in some early buckets, particularly the 13-month persistency ratio.
- The number of policies sold by the banca and alternate channels declined by 15.4% year-on-year.
- The agency workforce's market share by the number of agents decreased from 49.35% to 47.56% year-on-year.
- The company's profit after tax (PAT) growth was relatively modest at 3.51% year-on-year.
- Concerns were raised about the impact of new surrender regulations on the attractiveness and margins of Par products.
Ladies and gentlemen, good day and welcome to the LIC's H1 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. We have the senior management of LIC led by Mr. Siddhartha Mohanty, CEO and MD on this call. I now hand the conference over to Mr. Siddhartha Mohanty, CEO and MD, LIC. Thank you and over to you, sir.
Thank you. Good evening everyone. I'm Siddhartha Mohanty, Chief Executive Officer and Managing Director, LIC. I would like to welcome all of you to the half-yearly results call of the financial year 2024-2025. Our results declared today have been uploaded along with 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 four managing directors, Mr. M. Jagannath, Mr. Tablesh Pandey, Mr. Sat Pal Bhanoo, and Mr. R. Doraiswamy. Senior officials of the corporation present on this call are Mr. Dinesh
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