LIC sold policies worth over ₹1,100 crore on the first day of Navratri. The removal of GST on health and life insurance policies has increased positive customer sentiment. Experts say the removal of GST has made traditional life insurance policies more affordable for individual buyers. LIC reported a consolidated net profit of ₹10,957 crore for the first quarter of FY26.
IANS. Following the removal of GST on health and life insurance policies, the Life Insurance Corporation of India (LIC) sold policies worth over ₹1,100 crore on the first day of Navratri.
This figure is significant because LIC typically receives monthly premium income of around ₹5,000 crore from retail policyholders. The investment seen on the very first day after the tax relief reflects positive sentiment among policyholders and the potential boost to the insurance sector.
Industry experts say that the removal of GST has made traditional life insurance policies more affordable and attractive to individual buyers, which is expected to boost sales in the coming months.
LIC has reported consistent growth in both profit and premium income since the beginning of the current financial year.
The company reported a consolidated net profit of ₹10,957 crore for the April-June quarter of FY2026, an increase of 3.91 percent compared to the same period last year (Q1 FY2025).
The insurance company informed the stock exchanges that its net premium income also increased by 4.7 percent to ₹1,19,618 crore. LIC maintained its top position in the life insurance industry, with a market share of over 63 percent in first-year premium income.
The company’s net profit on standalone basis increased by five per cent year-on-year to Rs 10,986.51 crore.
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