Document Context

Life Insurance Corporation of India (LIC) filed this disclosure (Ref. No.: LIC/SE/2026-27/65) dated July 06, 2026, with BSE and NSE. It is a continuation of their earlier filing (Ref. no: LIC/SE/2026-27/60 dated June 28, 2026) regarding an Analyst/Institutional Investor Meet scheduled from July 01, 2026, to July 15, 2026. The purpose is to inform the exchanges that the corporate presentation for these meets has been converted into USD for the benefit of international investors and analysts. The presentation is enclosed as Annexure-A and is also available on the company's website.

Key Financial & Business Parameters (USD mn)

The presentation provides a detailed comparison of key metrics from pre-IPO (FY22) to FY26, using an exchange rate of USD/INR: 94.6543 (RBI Reference Rate as of 30.03.2026).

Financial Performance:

  • Total Premium Income: Grew from $45,156 (Pre-IPO) to $56,625 in FY26.
  • Profit After Tax (PAT): Increased significantly from $427 (Pre-IPO) to $6,066 in FY26.
  • Assets Under Management (AUM): Rose from $431,553 (Pre-IPO) to $605,297 in FY26.
  • Net Worth: Expanded dramatically from $1,100 (Pre-IPO) to $18,526 in FY26.
  • Solvency Ratio: Improved from 185.0% (Pre-IPO) to 235.0% in FY26.

New Business Metrics:

  • Annualized Premium Equivalent (APE): $7,074 in FY26 (Pre-IPO: $5,324).
  • Net Value of New Business (VNB): $1,498 in FY26 (Pre-IPO: $805).
  • Net VNB Margin %: Improved to 21.2% in FY26 from 15.1% pre-IPO.
  • Indian Embedded Value (IEV): Stood at $83,376 for FY26.
  • Overall Expense Ratio %: Reduced to 11.9% in FY26 from 14.5% pre-IPO.

Business Mix Trends:

Distribution Mix (Individual New Business by Premium):

  • Agency Channel: Dominant but declining share from 96.3% (Pre-IPO) to 91.8% in FY26.
  • Bancassurance, Alternates & Others: Growing share from 3.7% (Pre-IPO) to 8.2% in FY26.

Product Mix (Individual New Business by Premium):

  • Non-Participating Products: Share surged from 29.6% (Pre-IPO) to 60.8% in FY26.
  • Participating Products: Share decreased from 70.4% (Pre-IPO) to 39.2% in FY26.

Strategic Focus & Initiatives

The presentation outlines LIC's key strategic priorities:

1. Focus on digital and agency transformation projects.

2. Consolidate gains in enhancing the share of Non-Par products.

3. Consolidate distribution gains via Bancassurance and Alternate Channels.

4. Maintain market share with a focus on profitability.

5. Maximize investment yield while balancing risk.

6. Align human resource strategy with new skills and market demands.

Operational Highlights

  • Bima Sakhi Yojana (Women Empowerment): Launched by the Hon'ble Prime Minister on December 9, 2024. As of March 31, 2026, 0.35 million Mahila Career Agents (MCAs) were appointed, who sold 2.19 million policies with a Total New Business Premium of $300.9 million. 61.16% of policies and 57.72% of premium from this scheme were procured in rural areas. The scheme has achieved 100% coverage of Gram Panchayats in Kerala and 59% coverage (143,924 out of 244,876 Gram Panchayats) pan-India.
  • Market Position: LIC is identified as India's largest life insurance company with a 69+ year presence, based on First Year Premium data as of March 2026.

Appendix and Disclaimer

The document includes an appendix discussing the underpenetrated Indian insurance market, LIC's commitment to ESG initiatives, and its extensive domestic distribution network. A comprehensive disclaimer states that the presentation is for general information purposes, contains forward-looking statements, and is not an offer to sell securities. It also clarifies that industry data is sourced from third parties like the Life Insurance Council, IRDAI, ICRA, and Brand Finance.