Monday, May 30, 2022

L.I.C. of India declared Financial Results for the Financial Year 2021-2022.

 30/05/2022 PANINDIA

Mumbai, May 30th, 2022: The Board of Directors of Life Insurance Corporation of India (“LIC”) 

approved the standalone and consolidated financial results for the year ended March 31, 2022. 

Below are key highlights of our standalone results

For the year ended March 31, 2022, LIC registered an increase of 6.1 per cent in the Net Premium 

Income at Rs. 4,27,419 crore as compared to Rs. 4,02,844 crore in the previous financial year ended 

March 31, 2021. The Profit after Tax (PAT) for the full year ended March 31, 2022 was Rs. 4,043.12 

crore as against Rs. 2,900.57 crore for the year ended March 31, 2021, thereby registering an increase 

of 39.39 per cent. The Earnings Per share (EPS) for the financial year 2021 -22 was Rs. 6.39 per share. 

The Yield on Investments on policyholders funds excluding unrealized gains was 8.55 % for period 

ended March 31st, 2022 as against 8.69 % for year ended March 31, 2021. The Net NPAs in the 

policyholders fund declined to 0.04% for the year ended March 31, 2022 as compared to 0.05% for 

the previous year ended March 31, 2021. 

The solvency ratio for the year ended March 31, 2022 was 1.85 as against 1.76 for the period ended 

March 31, 2021. 

For the year ended March 31, 2022, the persistency ratios for the 13th month, 25th month, 37th month, 

49th month and 61st month were 75.59%, 73.47%, 66.58%, 63.85% and 61.00% respectively. 

The Board of Directors have also recommended a dividend of Rs. 1.50 per share translating to a 

dividend payout of Rs. 948.75 crore which aggregates to about 23.46 % of PAT. 

Though the year started on a muted note due to the Covid-19 pandemic, LIC was able to increase the 

marketing activities and ended the year with a significant growth of 18.70% in the quarter of Jan to 

March 2022 in Individual First year premium Income as compared to the corresponding quarter last 

year. LIC registered a growth of 6.31% in Weighted Received Premium (WRP) for the Financial Year 

ended March 31, 2022. LIC completed 2.17 crore of New Policies during the year with a growth of 

3.56% over the last year. The market share of LIC in individual policies was 74.60% for the financial 

year ended March 31, 2022. In the Group business the market share of LIC during year ended March 

31, 2022 was 89.07% by number of policies / schemes and 76.16% by first year premium. The market 

share of LIC as at the end of 31st March 2022 was 63.25% in composite First Year Premium income.

Further LIC maintained an agency strength at 1.33 million, a large share of whom are working in the 

rural areas of the country, thereby giving us a pan India presence across the various socio economic

segments. The average productivity per agent was 16 policies in financial year 2021-22 as compared 

to approximately 15 policies in financial year 2020-21.

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