Pioneer News Service, May 30 -- Life Insurance Corporation of India (LIC) reported an 18.4 per cent rise in annual profit after tax (PAT) to Rs 48,151 crore ($5.8 billion) for the financial year ended March 31, 2025, up from Rs 40,676 crore a year earlier. The insurer's board recommended a final dividend of Rs 12 per share, subject to shareholder approval.
The state-run insurer retained its dominant position in India's life insurance market, holding a 57.05per cent share in First Year Premium Income (FYPI), according to data from the Insurance Regulatory and Development Authority of India (IRDAI). LIC's individual business market share stood at 37.46per cent, while group business contributed 71.19per cent. Total premium income rose 2.75per...