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LIC Proposes 1:1 Bonus Issue; Seeks Shareholder Approval via Postal Ballot
Life Insurance Corporation of India (LIC) has issued a postal ballot notice to seek shareholder approval for a 1:1 bonus share issue, which involves capitalizing approximately •6,325 crore from its reserves. In addition to the bonus issue, the corporation is seeking approval for the re-appointment of two independent directors and the appointment of a new Managing Director and a Government Nominee Director. The e-voting period for these resolutions is scheduled from April 18, 2026, to May 17, 2026, with results expected by May 19, 2026. This corporate action is aimed at rewarding shareholders and improving the liquidity of the stock in the market.
Key Highlights
Proposed 1:1 bonus issue, granting one fully paid-up equity share of •10 for every one existing share held.
Capitalization of •6324,99,77,010 from the Corporation's reserves and surplus for the bonus issuance.
Appointment of Mr. Ramakrishnan Chander as Managing Director in the pay scale of •2,05,400 to •2,24,400.
Re-appointment of Independent Directors Mr. Mahalingam and Dr. V.S. Parthasarathy for a six-month term starting January 29, 2026.
Remote e-voting period ends on May 17, 2026, with results to be disseminated by May 19, 2026.
💼 Action for Investors
Investors should vote on the resolutions and watch for the announcement of the 'Record Date' to qualify for the 1:1 bonus shares. The bonus issue will increase the number of shares held while proportionally reducing the share price, which typically enhances retail participation through better liquidity.
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LIC Board Approves 1:1 Bonus Issue; Paid-up Capital to Double to Rs 12,650 Crore
The Board of LIC has approved a 1:1 bonus share issue, doubling the share count for existing investors as of the record date. This move will increase the paid-up capital to Rs 12,649.99 crore, utilizing a portion of the company's substantial reserves which stood at Rs 1,46,440.58 crore as of December 2025. The initiative is designed to reward shareholders, improve stock liquidity, and make the shares more affordable for retail investors. Management has explicitly clarified that this issuance will not impact the company's solvency margin or other financial parameters.
Key Highlights
Bonus issue approved in the ratio of 1:1, doubling the total number of equity shares.
Paid-up equity capital to rise from Rs 6,324.99 crore to Rs 12,649.99 crore post-issuance.
Strong financial position with Reserves & Surplus of Rs 1,46,440.58 crore as of Dec 31, 2025.
Reported a robust Profit After Tax (PAT) of Rs 33,998 crore for the 9-month period ended Dec 2025.
Management confirms the bonus issue will have no impact on the company's solvency margin.
💼 Action for Investors
Investors should remain invested to benefit from the bonus shares and the likely increase in retail liquidity. Watch for the announcement of the record date to ensure eligibility for the 1:1 issuance.
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LIC Announces 1:1 Bonus Issue; Capitalizing ₹6,325 Crore from Reserves
The Board of Life Insurance Corporation of India (LIC) has approved a 1:1 bonus issue, providing one free equity share for every one share held. To facilitate this, the corporation will capitalize approximately ₹6,325 crore from its substantial reserves of ₹14.64 lakh crore. This move will double the total number of issued shares to 1,265 crore while keeping the face value at ₹10 per share. The bonus shares are expected to be credited to eligible shareholders by June 12, 2026.
Key Highlights
Bonus ratio of 1:1 approved for equity shares of face value ₹10 each
Total capitalization amount of ₹6,324.99 crore from Reserves & Surplus
Post-bonus paid-up capital to increase from ₹6,325 crore to ₹12,650 crore
Massive reserve base of ₹14.64 lakh crore available for capitalization as of Dec 2025
Estimated completion date for credit of bonus shares is June 12, 2026
💼 Action for Investors
Investors should monitor for the announcement of the Record Date to ensure eligibility for the bonus shares. This corporate action is likely to improve trading liquidity and make the stock more accessible to retail investors.
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LIC Receives Income Tax Demand Notice of ₹10,331 Crore for FY 2023-24
Life Insurance Corporation of India (LIC) has received a substantial tax demand notice from the Income Tax Department totaling ₹10,331.27 crore for the financial year 2023-24. The demand includes a principal tax component of ₹8,576.82 crore and interest amounting to ₹1,754.45 crore. The dispute involves the disallowance of Section 80M deductions and the treatment of interim bonuses and negative reserves as income. LIC has confirmed it will file an appeal against this order before the Commissioner of Income Tax (Appeals).
Key Highlights
Total tax demand including interest stands at ₹10,331.27 crore for FY 2023-24.
The demand consists of ₹8,576.82 crore in income tax and ₹1,754.45 crore in interest.
Key points of contention include disallowance of Section 80M deductions and interim bonus treatment.
LIC plans to contest the demand by filing an appeal with the relevant tax authorities.
The company stated there is no immediate material impact on operations or other activities.
💼 Action for Investors
Investors should monitor the progress of the appeal process as the demand amount is significant relative to annual earnings. While the order is being contested, any unfavorable final ruling could impact future profitability and cash reserves.
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LIC Receives Income Tax Demand of INR 7,099.97 Crore for FY 2021-22
Life Insurance Corporation of India (LIC) has received a significant demand order from the Income Tax Department totaling INR 7,099.97 crore for the financial year 2021-22. The demand includes a base tax of INR 6,146.71 crore and interest of INR 953.26 crore. The tax authorities have disallowed several items, including interim bonuses, negative reserves, and deductions under section 80M. LIC has clarified that the order is appealable and intends to contest it before the Commissioner of Income Tax (Appeals).
Key Highlights
Total tax demand of INR 6,146.71 crore plus interest of INR 953.26 crore.
The demand pertains to the assessment of Financial Year 2021-22.
Disallowances include Interim Bonus, Loss from Jeevan Suraksha Fund, and Negative Reserves.
LIC plans to file an appeal against the order with the Commissioner of Income Tax (Appeals).
💼 Action for Investors
Investors should monitor the progress of the appeal as the demand is substantial, though tax disputes are common for large insurance entities. No immediate action is required, but the outcome of the appeal will determine the final impact on the bottom line.
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LIC Commences Operations at IFSC Branch in GIFT City, Gandhinagar
Life Insurance Corporation of India (LIC) has officially started operations at its International Financial Services Centre (IFSC) branch in GIFT City, Gandhinagar, as of February 27, 2026. This move follows a previous regulatory disclosure made on December 26, 2023, regarding the setup of this international unit. The IFSC branch allows LIC to offer dollar-denominated insurance products and target the NRI and global market more effectively. This strategic expansion is expected to diversify LIC's revenue streams and enhance its global footprint.
Key Highlights
Operations at the GIFT City IFSC branch commenced on February 27, 2026
The expansion follows through on a strategic plan initiated in December 2023
Enables LIC to provide international insurance services from India's premier financial hub
Aims to capture global business and offer dollar-denominated products to non-residents
💼 Action for Investors
Investors should monitor the scale of operations and premium growth from the IFSC unit in future earnings reports. This expansion is a positive long-term driver for diversifying the company's business mix.
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LIC Launches Two New Group Insurance Products: Group Term Ease and Group Benefits Secure
Life Insurance Corporation of India (LIC) has announced the launch of two new domestic insurance products effective February 16, 2026. The first product, LIC’s Group Term Ease Plan, is a non-participating, non-linked, pure risk group life plan. The second, LIC’s Group Benefits Secure Plan, is a non-participating, non-linked group savings plan. These launches signify LIC's continued focus on expanding its non-par product portfolio within the domestic group insurance segment.
Key Highlights
Launch of two new domestic products: LIC’s Group Term Ease Plan and LIC’s Group Benefits Secure Plan
Both products are categorized as Non-Participating and Non-Linked, aligning with margin-improvement strategies
Products target the group insurance market, covering both pure risk and savings categories
Official market launch scheduled for February 16, 2026
💼 Action for Investors
Investors should view this as a positive step in LIC's strategy to diversify its product mix toward non-participating products. Monitor the growth in the group insurance segment in upcoming quarterly results to gauge the adoption of these new offerings.
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LIC 9MFY26 PAT Rises 16.7% to ₹33,998 Cr; VNB Margins Improve to 18.8%
LIC reported a strong performance for the nine months ended December 31, 2025, with Profit After Tax (PAT) growing 16.68% YoY to ₹33,998 crore. A strategic shift in product mix saw the high-margin Non-Par segment's share of Individual APE rise significantly to 36.46% from 27.68% a year ago. Value of New Business (VNB) increased by 27.96% to ₹8,288 crore, while VNB margins expanded by 170 basis points to 18.8%. The corporation maintained its market leadership with a 57.07% market share in First Year Premium income.
Key Highlights
Profit After Tax (PAT) grew by 16.68% YoY to ₹33,998 crore for 9MFY26.
VNB margin improved to 18.8% from 17.1% YoY, driven by a 47.44% growth in Non-Par APE.
Total Assets Under Management (AUM) increased by 8.01% YoY to reach ₹59.17 lakh crore.
Overall expense ratio decreased by 132 basis points to 11.65% reflecting better operational efficiency.
Bancassurance and Alternate Channels recorded a robust 66.74% growth in New Business Premium.
💼 Action for Investors
Investors should focus on the successful margin expansion and the increasing contribution of Non-Par products to the bottom line. The stock remains a key beneficiary of the structural shift in the Indian insurance landscape toward high-margin protection and savings products.
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LIC 9M FY26 PAT Rises 16.7% to ₹33,998 Cr; Non-Par Product Share Climbs to 60.5%
LIC reported a robust 16.68% YoY increase in Profit After Tax, reaching ₹33,998 crore for 9M FY26. The corporation's Assets Under Management (AUM) grew 8.01% to ₹59.17 lakh crore, while the solvency ratio improved significantly to 2.19. A key strategic highlight is the successful shift in product mix, with high-margin Non-Participating products now accounting for 60.48% of individual new business premium, up from 53.34% in FY25.
Key Highlights
Profit After Tax (PAT) grew by 16.68% YoY to ₹33,998 crore for the nine-month period ending December 2025.
Assets Under Management (AUM) increased to ₹59,16,680 crore, an 8.01% rise compared to 9M FY25.
Share of Non-Participating products in individual new business premium rose to 60.48% from 53.34% in the previous year.
Solvency ratio strengthened to 2.19 from 2.02, indicating a very healthy capital buffer.
Overall expense ratio improved to 11.65% from 12.97% YoY, reflecting better operational efficiency.
💼 Action for Investors
Investors should take note of LIC's successful transition toward a higher-margin Non-Par product mix which is likely to boost Value of New Business (VNB) margins. The strong solvency and AUM growth reinforce its market leadership, making it a stable long-term play in the insurance sector.
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LIC 9M FY26: PAT Rises 16.7% to ₹33,998 Cr; VNB Margins Improve to 18.8%
LIC reported a strong financial performance for 9M FY26, with Profit After Tax (PAT) increasing by 16.68% YoY to ₹33,998 crore. The company successfully improved its Value of New Business (VNB) margin to 18.8%, driven by a strategic shift towards high-margin Non-Participating products, which now account for 36.46% of Individual APE. Total Premium Income grew by 9.02% to ₹3,71,293 crore, while Assets Under Management (AUM) reached ₹59.17 lakh crore. Despite a slight dip in market share, the solvency ratio strengthened significantly to 2.19.
Key Highlights
Profit After Tax (PAT) grew 16.68% YoY to ₹33,998 crore for the nine-month period ending December 2025.
VNB Margin expanded to 18.8% from 17.1% YoY, with absolute VNB increasing 27.96% to ₹8,288 crore.
Share of high-margin Non-Participating products in Individual APE rose significantly to 36.46% from 27.68% YoY.
Assets Under Management (AUM) increased by 8.01% YoY to reach a massive ₹59,16,680 crore.
Solvency ratio improved to 2.19 from 2.02, indicating a very strong capital position and regulatory compliance.
💼 Action for Investors
Investors should view the margin expansion and shift toward Non-Par products as a significant positive for long-term valuation. The stock remains a solid defensive play with improving profitability metrics and a robust solvency cushion.
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LIC 9M FY26 PAT Rises 16.7% to ₹33,998 Cr; VNB Margins Improve to 18.8%
LIC reported a strong 16.68% YoY growth in Profit After Tax for 9M FY26, reaching ₹33,998 crore. The company is successfully shifting its product mix towards high-margin Non-Par products, which now constitute 36.46% of the individual APE compared to 27.68% last year. This strategic shift led to a 27.96% growth in Value of New Business (VNB) and a 170 bps expansion in VNB margins to 18.8%. While overall market share remained stable at 57.07%, the company saw improved efficiency with the expense ratio dropping to 11.65%.
Key Highlights
Profit After Tax (PAT) grew 16.68% YoY to ₹33,998 crore for the nine months ended Dec 2025.
Value of New Business (VNB) surged 27.96% to ₹8,288 crore with net margins expanding to 18.8%.
Individual Non-Par APE grew significantly by 47.44% to ₹10,045 crore, increasing its share in individual business.
Assets Under Management (AUM) reached ₹59.17 lakh crore, an 8.01% increase YoY.
Solvency ratio improved to 2.19 from 2.02, while the overall expense ratio decreased by 132 bps to 11.65%.
💼 Action for Investors
Investors should focus on the consistent margin expansion and the successful pivot toward high-margin Non-Par products which improves long-term profitability. The stock remains a dominant play in the insurance sector with strengthening solvency and operational efficiency.
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LIC Approves Q3 FY26 Unaudited Standalone and Consolidated Financial Results
The Board of Directors of Life Insurance Corporation of India (LIC) met on February 5, 2026, to approve the unaudited financial results for the quarter and nine-month period ending December 31, 2025. The meeting, which lasted over three hours, resulted in the approval of both standalone and consolidated financial statements. This disclosure is a mandatory regulatory requirement under SEBI Listing Regulations. Investors should now examine the detailed P&L and balance sheet figures to assess the company's growth trajectory and margin performance.
Key Highlights
Board approved unaudited financial results for the quarter ended December 31, 2025
Consolidated and standalone results for the nine-month period were also cleared
The board meeting concluded at 3:55 p.m. IST on February 5, 2026
Limited Review Report for the period has been submitted to the stock exchanges
💼 Action for Investors
Investors should analyze the detailed financial tables for trends in the Value of New Business (VNB) and product mix shifts. Monitor the stock for price action as the market absorbs the specific profit and premium growth figures.
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LIC Invests Rs 5,120 Crore in Bajaj Finance Debentures
Life Insurance Corporation of India (LIC) has announced a significant investment of Rs 5,120 crore in Bajaj Finance Limited. The Corporation subscribed to 512,000 debentures with a face value of Rs 100,000 each. This transaction was completed on January 27, 2026, via cash consideration through RTGS. The investment aligns with LIC's routine treasury and investment operations in high-quality financial institutions.
Key Highlights
Total investment of Rs 5,120 crore in Bajaj Finance debentures
Subscription of 512,000 units at a face value of Rs 100,000 per debenture
Transaction completed on January 27, 2026, through RTGS payment
Target entity is a leading NBFC-Investment and Credit Company registered with RBI
💼 Action for Investors
Investors should view this as a routine deployment of capital by LIC into a high-rated credit instrument. No immediate portfolio action is required as this is part of LIC's standard investment strategy.
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LIC to Launch 'Jeevan Utsav Single Premium' Savings Plan on Jan 12, 2026
Life Insurance Corporation of India (LIC) has announced the launch of a new domestic product, 'LIC’s Jeevan Utsav Single Premium', effective January 12, 2026. This is a Non-Par, Non-Linked, Individual, Savings, Whole Life Insurance Plan. The introduction of non-participating products is a strategic move to improve margins compared to traditional par products. This launch aligns with LIC's objective to diversify its portfolio and enhance its value of new business (VNB).
Key Highlights
Launch of 'LIC’s Jeevan Utsav Single Premium' scheduled for January 12, 2026.
The product is a Non-Par, Non-Linked, Individual, Savings, Whole Life Insurance Plan.
Focuses exclusively on the domestic market to capture savings-oriented demand.
Strategic shift towards non-participating products to potentially boost profit margins.
💼 Action for Investors
Monitor the uptake of this product as it reflects LIC's ability to transition towards higher-margin non-par segments. Positive sales data could lead to improved VNB margins in future quarters.
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LICI Receives GST Demand Order for ₹1569.97 Cr in Maharashtra
Life Insurance Corporation of India (LICI) has received a demand order for Goods & Service Tax, interest, and penalty for Maharashtra State. The GST demand is ₹1382.52 crore, the interest is ₹849.57 crore, and the penalty is ₹138.25 crore, totaling approximately ₹2370.34 crore. The demand pertains to FY 2021-22 to 2023-24 and relates to excess Input Tax Credit (ITC) claimed. LICI has the option to appeal the order before the Commissioner (Appeals), Mumbai. While the financial impact is significant, the company states that there is no material impact on operations or other activities.
Key Highlights
GST demand of ₹1382.52 crore for FY 2021-22 to 2023-24
Interest demand of ₹849.57 crore
Penalty of ₹138.25 crore
Total demand (GST + Interest + Penalty) is approximately ₹2370.34 crore
Demand relates to excess Input Tax Credit (ITC) claimed
💼 Action for Investors
Investors should monitor LICI's appeal process and any potential impact on future earnings. While the company claims no material impact on operations, the large amount could affect profitability if the appeal is unsuccessful.
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LICI appoints Ramakrishnan Chander as Managing Director w.e.f. December 01, 2025
Life Insurance Corporation of India (LICI) has announced the appointment of Mr. Ramakrishnan Chander as the Managing Director of the Corporation effective December 01, 2025. He will hold the position until his superannuation on September 30, 2027, or until further orders. Mr. Chander's salary will be in the range of ₹2,05,400 to ₹2,24,400. Prior to this appointment, he served as the Executive Director (Investment – Front Office) & Chief Investment Officer.
Key Highlights
Ramakrishnan Chander appointed as Managing Director effective December 01, 2025
His tenure extends until September 30, 2027 (superannuation) or until further orders
Salary scale is ₹2,05,400 to ₹2,24,400
He has 35 years of experience in Marketing and Administration
💼 Action for Investors
Investors should monitor Mr. Chander's strategic decisions and their impact on LICI's performance. This is a key leadership change, so keep an eye on any shifts in company strategy or financial outlook.