Life Insurance Corporation of India Q2 FY26 Results

We at LIC are very optimistic about the positive impact of the GST changes announced for the Insurance Industry by the Government of India during September 2025. 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. From a business perspective during the first half of this year (FY 2025-26), LIC has once again demonstrated the successful implementation of its strategy pertaining to both product and channel diversification, that we have been pursuing since our listing. The Non Par APE share of Individual business for H1 FY26 is 36.31% as compared to 26.31% for the similar period of previous year. The Banca and Alternate Channels share of Individual NBP is now 7.12% for H1 FY26 as compared to 4.10% last year, demonstrating a growth of 67.62%. While we have seen the VNB increase by 12.30% in H1 FY26 to Rs 5,111 crore, our VNB margin has also expanded by 140 bps to 17.6% in H1 FY26. While we expand our overall profitability through diversified product mix and channel mix, we are also working towards optimizing costs and for H1 FY26 our overall expense ratio has decreased by 146 bps to 11.28%.