New Delhi, Nov 6 (IANS) Life Insurance Corporation of India (LIC) on Thursday reported a robust 32 per cent increase in standalone net profit to Rs 10,053.39 crore for the second quarter of the current financial year, compared with the corresponding figure of Rs 7,620.86 crore in the same period of the previous financial year.

LIC’s net premium income grew 5.5 per cent year-on-year to Rs 1.26 lakh crore during the July-September quarter from 1.2 lakh crore in the same period last year while the solvency ratio increased to 2.13 per cent from 1.98 per cent in the year-ago period.

The asset quality for policyholders’ funds also improved during the quarter as NPA fell to Rs 3.94 per cent from Rs 6.17 per cent in Q2 FY25.

In the first six months of FY26 (H1FY26), LIC’s net profit amounted to Rs 21,040 crore, marking a 16.36 per cent increase year-on-year (Y-o-Y).

The company statement noted that LIC’s total premium income for the six months (H1FY26) rose 5.14 per cent year-on-year to Rs 2,45,680 crore. Individual business premium increased to Rs 1,50,715 crore, while group business premium rose to Rs 94,965 crore.

The company’s renewal premium in the individual segment grew 6.14 per cent to Rs 1,22,224 crore.

R Doraiswamy, CEO and MD of LIC, said that the company is very optimistic about the positive impact of the GST changes announced for the Insurance Industry by the Government.

“It is our firm belief that these changes are in the best interest of customers and will lead to further accelerated growth of the life insurance industry in India. As LIC, we have ensured that all intended benefits of GST changes are passed onto the customers.” Doraiswamy added.

Life Insurance Corporation of India has been ranked third among the world’s strongest insurance brands, achieving a Brand Strength Index (BSI) score of 88 out of 100, according to the Brand Finance Insurance 100 2025 report.

Poland-based PZU secured the top spot with a BSI score of 94.4, followed by China Life Insurance, which ranked second with a BSI score of 93.5.

–IANS

sps/na