New Delhi, Aug. 8 -- The Street gave a thumbs-up to Life Insurance Corp.'s (LIC) June quarter (Q1FY26) results, with the stock rising 4% on Friday. In a seasonally weak quarter, a 150-basis-point (bps) year-on-year increase in the value of new business (VNB) margin to 15.4% came as a comfort. This was largely driven by a higher share of non-participating products.

The annualized premium equivalent (APE) of non-participating (non-par) policies rose by Rs.526 crore to Rs.2,142 crore. Of this, the APE of unit-linked insurance plans (ULIPs) increased by Rs.496 crore to Rs.927 crore, contributing nearly the entire growth.

In the profitability hierarchy of non-participating products, term (protection) insurance ranks at the top, followed by n...