Summary:
Life Insurance Corporation of India reported a 20% YoY increase in consolidated Q2 FY27 net profit to ₹12,115 crore. Premium income grew 16.2%, while VNB margin improved to 21.82%, supported by group insurance growth despite weaker individual policy sales.
Life Insurance Corporation of India (NSE: LICI | BSE: 543526) reported a 20% YoY rise in its consolidated net profit at ₹12,115 crore for the Q2FY27 quarter against ₹10,098 crore in the same quarter last year.
The state-owned insurer reported its September quarter results on November 5, 2026. Increased premium income and growth in the group insurance business helped earnings but sales in individual insurance were still under pressure.
LIC Q2 FY27 Results
Life Insurance Corporation ( LIC ) posted consolidated net premium income of ₹1,47,433 crore in Q2FY27 compared to ₹1,26,930 crore in Q2FY26, up 16.2%.
Total consolidated income grew 9.7% YoY to ₹2,64,861 crore from ₹2,41,536 crore.
Consolidated net profit of the company increased 20% year-on-year to ₹12,115 crore from ₹10,098 crore.
However, profit dropped 10.8% QoQ from ₹13,584 crore reported in Q1FY27.
Key consolidated financial highlights:
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| Q2FY27 | Q2FY26 | Change YoY | |
| Net premium income | ₹ 1,47,433 crore | ₹ 1,26,930 crore | +16.2 % |
| Total income | ₹2,64,861 crore | ₹2,41,536 crore | +9.7% |
| Net profit | ₹12,115 crore | ₹10,098 crore | +20.0% |
| Profit before tax | ₹12,175 crore | ₹10,202 crore | +19.3% |
LIC reported a standalone net profit of ₹12,076 crore up 20.1% YoY from ₹10,053 crore.
What led to the rise in LIC’s profit?
Higher premium collections were a major driver of profit growth.
The group insurance business was the faster growing segment compared with individual insurance, helping offset slower sales of market-linked policies.
LIC’s annualized premium equivalent (APE), a metric for comparing new insurance business, grew 3.8% on-year to ₹17,004 crore.
Within this, the Group business APE increased by 16.5% and the individual business APE decreased by 4.1%.
Individual business declined on account of weaker demand for certain investment-linked insurance products, especially Unit Linked Insurance Plans (ULIPs).
Renewal premium collections were also up at the same time, helping to boost overall premium income.
AUM and new business margin
LIC reported a 17.14% YoY growth in Value of New Business (VNB) at ₹3,710 crore in Q2FY27.
Its VNB margin increased to 21.82% compared to 19.33% in the same quarter last year.
The improvement implies higher profitability from new insurance policies written during the period.
As of September 30, 2026, assets under management were at about ₹59.60 lakh crore, against ₹57.23 lakh crore a year ago.
The company’s solvency ratio improved to 235% from 213% in Q2FY26.
Consolidated net profit for H1FY27 rose 22.1 per cent YoY to around ₹25,699 crore.
Why LIC Shares Could React To The Results?
Shares of LIC ended at ₹408 on November 5, the same as the previous close. The quarterly results were released after the market closed, so the closing price is not a reaction to the earnings release.
The positive operating data was the reported increase in profit, premium income and VNB margin.
But the sequential drop in profit and the weaker growth of individual businesses indicated divergent trends.
Investors will also want to see whether the recovery in new business profitability can be sustained as sales of policies rise.
LIC’s Q2FY27 numbers showed better year-on-year earnings and a strong group business, while subdued individual insurance demand remained a concern in the quarters ahead.
