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India's LIC saw record first-day premiums after GST cut, boosting demand for traditional life insurance.
India's Life Insurance Corporation (LIC) received over ₹1,100 crore in new premiums on the first day after the government removed the 18% GST on individual traditional life insurance policies, marking a sharp increase compared to its usual monthly retail inflows.
This move is expected to boost affordability and demand for traditional plans, with industry experts forecasting higher sales.
In the April–June 2025 quarter, LIC reported a 3.91% year-on-year rise in consolidated net profit to ₹10,957 crore and a 4.7% increase in net premium income to ₹1.196 lakh crore.
The company maintained its dominant market share, with a first-year premium income share of 63.51%.
LIC also highlighted progress in expanding non-par products, improving profit margins, and strengthening bancassurance partnerships.
La LIC de la India registró primas récord del primer día después del recorte de GST, lo que impulsó la demanda de seguros de vida tradicionales.