Key Financial Figures (Standalone)

Policyholders' Account:

  • Gross Premium Income: ₹1,27,420.12 crore (Q1 FY27) vs ₹1,19,333.04 crore (Q1 FY26)
  • First Year Premium: ₹9,217.26 crore
  • Renewal Premium: ₹61,833.49 crore
  • Single Premium: ₹56,369.37 crore
  • Net Premium Income: ₹1,27,250.41 crore (Q1 FY27) vs ₹1,19,200.39 crore (Q1 FY26)
  • Income from Investments (Net): ₹1,09,351.45 crore
  • Other Income: ₹634.93 crore
  • Transfer from Shareholders' Account: ₹610.91 crore
  • Total Income: ₹2,37,847.70 crore

Expenses & Benefits:

  • Net Commission: ₹5,032.16 crore
  • Operating Expenses: ₹8,508.64 crore (Employee remuneration: ₹6,033.74 crore; Other operating expenses: ₹2,474.90 crore)
  • Expenses of Management: ₹13,540.80 crore
  • Benefits Paid (Net): ₹1,598.32 crore
  • Change in Actuarial Liability: ₹1,21,377.00 crore

Profitability:

  • Surplus/Deficit: ₹12,274.71 crore
  • Transferred to Shareholders' Account: ₹12,146.56 crore

Shareholders' Account:

  • Transfer from Policyholders' Account: ₹12,146.56 crore
  • Investment Income (Net): ₹2,543.26 crore
  • Profit Before Tax: ₹13,583.96 crore
  • Provisions for Tax: ₹91.93 crore
  • Profit After Tax: ₹13,492.03 crore (Q1 FY27) vs ₹10,986.51 crore (Q1 FY26) - 22.81% growth
  • Profit Carried to Balance Sheet: ₹1,77,063.01 crore

Capital Structure:

  • Paid-up Equity Share Capital: ₹12,650.00 crore (increased from ₹6,325.00 crore due to bonus issue)
  • Reserve & Surplus: ₹1,77,092.56 crore

Key Ratios (Standalone):

  • Solvency Ratio: 2.42 (vs 2.17 in Q1 FY26)
  • Earnings Per Share (Basic & Diluted): ₹10.67
  • Gross NPAs (Policyholders' fund): ₹7,168.08 crore (1.21%)
  • Net NPAs (Policyholders' fund): ₹4.92 crore (0.00%)
  • Yield on Investments (Policyholders' fund): 8.28% (without unrealized gains), 15.04% (with unrealized gains)
  • Overall Expense Ratio: 10.63% (vs 10.47% in Q1 FY26)
  • Persistency Ratio (13th month): 70.38%

Consolidated Financial Highlights

  • Profit After Tax: ₹13,584.25 crore
  • Total Premium Income: ₹1,27,623.16 crore
  • Assets Under Management (AUM): ₹59,39,384 crore (4.10% YoY growth)

Operational Highlights from Press Release

  • Value of New Business (VNB): ₹3,136 crore (61.32% YoY growth)
  • VNB Margin (Net): 22.9% (750 bps expansion)
  • Individual New Business Premium: ₹14,351 crore (14.48% growth)
  • Total Premium Income: ₹1,27,250 crore (6.75% growth)
  • Market Share: 60.10% by First Year Premium Income
  • Individual Business Market Share: 38.89%
  • Group Business Market Share: 70.90%
  • Policies Sold (Individual): 31,02,281 (2.06% growth)
  • Non-Par APE Share: 32.49% (vs 30.34% in Q1 FY26)

Significant Notes from Financial Statements

Emphasis of Matters (Auditors):

1. Family Pension Amortization: Regulatory approval received to amortize ₹9,280.37 crore over 20 quarters starting Q3 FY24 (₹464.02 crore per quarter). ₹464.02 crore charged in Q1 FY27. Balance: ₹4,176.15 crore to be amortized up to Q2 FY29.

2. Expenses of Management Replenishment: ₹7,230.09 crore in Par segment for excess Expenses of Management in FY23 to be replenished from Shareholders' account in equal annual installments (max 3). ₹602.51 crore replenished in Q1 FY27. Balance: ₹1,807.50 crore to be replenished up to Q4 FY27.

3. Additional Pension Liability: ₹5,477.10 crore towards additional pension liability in Par segment to be charged to Shareholders' account over 3 years starting FY25. ₹456.42 crore charged in Q1 FY27. Balance: ₹1,369.32 crore to be charged up to Q4 FY27.

Corporate Actions:

1. Bonus Shares: 1:1 bonus shares issued on June 1, 2026, increasing paid-up capital from ₹6,325 crore to ₹12,650 crore.

2. Dividend: Final dividend of ₹10 per share approved for FY26 and paid on July 29, 2026.

3. OFS: Government of India announced Offer for Sale of up to 6.50% of paid-up equity share capital (base offer: 2.5%, green shoe: 4%) via public announcement dated August 3, 2026.

Other Significant Disclosures:

  • Ind AS Adoption: Forbearance obtained from IRDAI to defer Ind AS adoption by one year; will adopt from April 1, 2027.
  • Board Composition: No independent directors as of June 30, 2026, due to completion of tenure.
  • Foreign Operations: Includes results of 3 foreign branches with total assets of ₹6,045.36 crore and 7 foreign subsidiaries.
  • Associates: Includes results from 6 associate companies including IDBI Bank Limited and LIC Housing Finance Ltd.

Management Commentary

Shri R Doraiswamy, CEO & MD, LIC highlighted maintained leadership in individual and group business, 61% VNB growth, 7.5% margin expansion, and welcomed new shareholders through the OFS. LIC will complete 70 years on September 1, 2026.