LIC’s Share Price in Focus; Launches Smart Pension Plan

LIC’s share price traded at ₹766.35, reflecting a modest increase of ₹1.20 or 0.16% compared to its previous close. The stock opened at ₹765.15, reaching a high of ₹772.80 and a low of ₹760.60 during the session. The indicative close is reported at ₹765.99, with the Volume Weighted Average Price (VWAP) also at ₹765.99.

Smart Pension Plan to Strengthen Position in India’s Pension Market

Life Insurance Corporation of India (LIC) has officially revealed that it will launch its new pension product, ‘LIC’s Smart Pension,’ on February 18, 2025. The plan is designed specifically for the domestic market and is a ‘Non-Participating (Non-Par), Non-Linked, Individual/Group, Savings, Immediate Annuity Plan.’

This new plan is expected to enhance LIC’s leadership position in India’s expanding pension and retirement savings sector. As more people seek ways to secure their financial future, the ‘Smart Pension’ plan aims to meet this increasing demand.

LIC Reports Decline in Premium Income in Q3 FY25

For the third quarter of FY25, state-run LIC reported a 9% decline in its net premium income, which stood at ₹1.07 lakh crore. This decrease was driven by a 24% drop in single-premium collections and a 14% fall in first-year premium collections.

Despite the decline in premium income, LIC reported a 17% increase in profit after tax, reaching ₹11,056 crore. This was primarily due to a significant reduction in employee compensation and welfare expenses, which dropped by nearly a third in the December quarter.

However, LIC’s Value of New Business (VNB), which measures the expected profit from new premiums, fell by 27% year-over-year, amounting to ₹1,926 crore for the reported quarter.

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