Life Insurance coverage Company of India (LIC) attracted robust investor curiosity on the primary day after the federal government scrapped items and companies tax (GST) on particular person conventional life insurance coverage insurance policies. The insurer drew inflows of over Rs 1,100 crore in a single day, in response to experiences.
This growth is important as LIC often receives round Rs 5,000 crore of month-to-month premium revenue from retail policyholders.
The inflows seen on the very first day after the tax reduction spotlight the optimistic sentiment amongst policyholders and the potential enhance for the insurance coverage sector.
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Trade consultants mentioned that the removing of GST has made conventional life insurance coverage insurance policies extra inexpensive and engaging for particular person patrons, which is anticipated to push up gross sales within the coming months.
Earlier this monetary yr, LIC had reported a gentle rise in each revenue and premium revenue.
The corporate posted a consolidated internet revenue of Rs 10,957 crore within the April–June quarter (Q1) of FY26, a 3.91 per cent enhance in comparison with the identical interval earlier yr 9Q1 FY25).
Its internet premium revenue additionally grew by 4.7 per cent to Rs 1,19,618 crore, the insurer knowledgeable the exchanges.
LIC continues to take care of its management within the life insurance coverage business with a market share of over 63 per cent in first-year premium revenue.
“In the course of the first quarter of this monetary yr, our total market share by First Yr Premium Revenue was 63.51 per cent and we maintained our management in each Particular person and Group Enterprise,” R Doraiswamy, CEO and MD, LIC mentioned in an change submitting dated August 7.
“Key parts of our technique like enhance in Non-Par share in Particular person enterprise, enhance in VNB margin, enhance in Banca share are totally on observe,” Doraiswamy added.
The web revenue of the corporate elevated 5 per cent YoY on a standalone foundation to Rs 10,986.51 crore.
