After encouraging Q4, outlook positive for public sector insurer LIC

LIC has an industry leading position despite the aggressive catch up from private competitors

India’s largest life insurer, Life Insurance Corporation of India (LIC) reported encouraging performance in the January-March quarter (Q4) of FY24. Total annual premium equivalent (APE) was at Rs 21,180 crore, up 10.7 per cent year-on-year (Y-o-Y), with group APE of Rs 3,890 crore, up 60 per cent Y-o-Y, though individual APE contracted 2.1 per cent Y-o-Y. The participatory book contracted 20.2 per cent Y-o-Y, but the non-par grew by 206 per cent to Rs 3,740 crore. Embedded Value grew by a strong 24.9 per cent Y-o-Y to Rs 7.27 trillion. The Q4FY24 PAT grew 2.5 per cent Y-o-Y to Rs