Life Insurance Corp. Of India · NSE:LICI
Life Insurance Corp. Of India — Life Insurance Corporation of India — Investor Presentation (July 2026)
23 slides from Life Insurance Corp. Of India's investor presentation, Jul 6, 2026
Slide 1: Exchange filing cover letter: Presentation on Analyst/Institutional Investor Meet
Ref. No.: LIC/SE/2026-27/65 Date: July 06, 2026 To The Manager The Manager Listing Department, Listing Department, BSE Limited, National Stock Exchange of India Ltd., th Phiroze Jeejeebhoy Tower, Exchange Plaza, 5 Floor, Plot C/1, Dalal Street, G Block, Bandra Kurla Complex, Mumbai-400001 Mumbai-400
Slide 2: Investor Presentation Annexure-I, July 2026
Investor Presentation Annexure-I July 2026
Slide 3: Key Business Parameters (1/2)
Key Business Parameters (1/2) (USD mn) Pre-IPO listing / (FY22) FY24 FY25 FY26 Total Premium Income 45,156 50,190 51,572 56,625 Distribution Mix % (Individual New Business – by Premium) Agency 96.3% 96.0% 93.9% 91.8% Bancassurance, Alternates & Others 3.7% 4.0% 6.1% 8.2% Product Mix % (Individual Ne
Slide 4: Key Business Parameters (2/2)
Key Business Parameters (2/2) (USD mn) Pre-IPO listing / (FY22) FY24 FY25 FY26 IEV 57,207 76,842 82,075 83,376 Total APE 5,324 6,019 6,004 7,074 Net VNB 805 1,012 1,058 1,498 Net VNB Margin % 15.1% 16.8% 17.6% 21.2% Solvency % 185.0% 198.0% 211.0% 235.0% Net Worth 1,100 8,657 13,331 18,526 AUM 431,5
Slide 5: LIC – Life Insurance Leader with Strong Competitive Advantages
LIC – Life Insurance Leader with Strong Competitive Advantages India’s largest life Pan-India distribution Robust product suite insurance company(1) franchise with focus on margins Technology enabled customer experience Continuous emphasis on driving operational Long term value creation corporate go
Slide 6: India's Largest Life Insurance Company
1 India’s Largest Life Insurance Company Distribution & Market leadership Scale Customer ~ 18.4 Mn ~ 1.5 Mn FY26 Individual policies sold Agents (Mar-26) #1 2nd #3 8.3x 5.2x Largest Life Largest public sector Co. World 3rd strongest of 2nd largest life insurer5 of 2nd largest life insurer6 Insurer i
Slide 7: Pan-India Distribution Franchise – Omni-channel Network and Increasing Share of Bancassurance
Pan-India Distribution Franchise – Omni-channel Network and 2 Increasing Share of Bancassurance Snapshot of LIC’s Distribution Capabilities Premium Covering 92% Branch and 1.5 Agents exclusive 36 districts vs 82% Collection points 3,636 satellite offices4 to LIC States & combined for 39,131 2 (2,487
Slide 8: Pan-India Distribution Franchise – Robust Agency Force
2 Pan-India Distribution Franchise – Robust Agency Force Largest agency force in India Agency network with a mix of youth and experienced professionals Mix of agents by age group 11% 48.0% 49.1% 52.9% 18% 20% 13% 13% 1.5 25% 18-30 yrs 31-35 yrs 36-40 yrs 41-50 yrs 51-60 yrs Above 60 yrs 1.4 Mix of a
Slide 9: Robust Product Suite with Focus on Margins
3 Robust Product Suite with Focus on Margins Individual New Business Breakdown – by Premium Pre-IPO listing / (FY22) FY25 FY26 Par 53.3% Par Par 70.4% Non-Par Non-Par 39.2% 60.8% Non-Par 29.6% 46.7% Individual New Business Breakdown – by Policies Pre-IPO listing / (FY22) FY25 FY26 94.1% Par Par 80.1
Slide 10: Robust Product Suite with Focus on Margins – Cross Cyclical and Comprehensive Life Insurance Solutions
Robust Product Suite with Focus on Margins – Cross Cyclical 3 and Comprehensive Life Insurance Solutions Comprehensive suite of products Product portfolio designed to suit customer life-cycle1 (as on 31st March 2026) Participating Products 12 25 14 8 Participating Non-Par products Group products pro
Slide 11: Technology Enabled Customer Experience Driving Operational Performance
Technology Enabled Customer Experience Driving Operational 4 Performance Digitally streamlined experience for customers Sales intermediaries empowered with best-in-class enablers Accelerating LIC’s digital transformation Processes transformed from paper-heavy, manual to paperless, digitally executed
Slide 12: Continuous Emphasis on Corporate Governance – Highly Experienced & Distinguished BOD and KMPs
Continuous Emphasis on Corporate Governance – 6 Highly Experienced & Distinguished BOD and KMPs Brand synonymous with Life Insurance in India Dominant leader for 69+ years Eminent Board with extensive experience in the life insurance Cycle-tested and experienced management team industry, leading to
Slide 13: Our Strategy – Key Focus Areas
Our Strategy – Key Focus Areas #1I. Focus on digital and agency transformation project #2I. Consolidate gain achieved in enhancing share of Non Par within the individual businesses #3I. Consolidate the distribution gains achieved via Bancassurance and Alternate Channels #4I. Market share with focus
Slide 14: IEV and VNB Walk
IEV and VNB Walk IEV Walk – March 2025 to March 2026 USD Mn 7,897 568 82,075 1,498 (176) 83,376 (7,685) (802) Opening VNB Unwinding Operating Change in Economic Dividend Closing IEV IEV (FY25) Experience Operating Assumptions payout March 26 Variance Assumptions Change & Variance VNB Walk FY25 to FY
Slide 15: APPENDIX
APPENDIX 14
Slide 16: Life Insurance: An Underpenetrated Industry in Growing Economy
Life Insurance: An Underpenetrated Industry in Growing Economy Indian market underinsured vs. major economies Significant potential for India Life Insurance penetration1 Life insurance density (in US$)2 5,923 9.6% 9.2% 4,827 6.5% 6.5% 6.4% 3,011 4.2% 3.8% 2,048 2.7% 2.7% 1,501 605 313 201 72 Indian
Slide 17: Committed to ESG Initiatives
Committed to ESG Initiatives LIC has integrated the SDGs with key areas of their business operations. LIC initiatives have ensured a positive contribution to at least 14 of the 17 SDGs LIC of India achieved a “CareEdge-ESG 1” rating(1) with an ESG score of 74.0 reflecting leadership in governance, t
Slide 18: Bima Sakhi Yojana – Women Empowerment
Bima Sakhi Yojana – Women Empowerment Bima Sakhi Yojana launched by Hon’ble Prime Minister on 9th December 2024 LIC’s Bima Sakhi Yojana – Mahila Career Agent (MCA) Scheme Stipendiary scheme Leveraging growing Stipendiary scheme for based on achievement of influence of women three years specified nor
Slide 19: Proven Track Record of Long-term Value Creation
Proven Track Record of Long-term Value Creation Death Claim Settlement Ratio Assets Under Management Individual Policies Sold FY26 99.44% FY26 USD 605,297 Mn FY26 1,84,41,175 FY25 99.41% +0.03% FY25 USD 576,022 Mn +5.1% FY25 1,77,82,975 +3.7% (Absolute) Commission Ratio Overall Expense Ratio Solvenc
Slide 20: Extensive Domestic Distribution Network
Extensive Domestic Distribution Network Assam Arunachal Breakup of New Business Premium - State wise Jammu & Kashmir; Ladakh Pradesh Meghalaya Punjab Himachal Pradesh FY26 Chandigarh Tripura Uttarakhand Haryana Sikkim Madhya Pradesh Telangana Delhi Uttar Pradesh 3.93% 3.09% Maharashtra Rajasthan Bih
Slide 21: LIC – Overview of Group Structure
LIC – Overview of Group Structure Foreign branches1 Subsidiaries Associates Country Entity Country Entity Stake held (%) Country Entity Stake held (%) Fiji Branch 100.00% 45.24%3 Mauritius Branch 100.00% 5.38%3 United Kingdom Branch 99.66%2 Gift City Branch 49.24%4 Equity Participation 100.00% Count
Slide 22: Abbreviation
Abbreviation Term Description Term Description GWP Gross Written Premium CAGR Compounded Annual Growth Rate NBP New Business Premium GDP Gross Domestic Product APE Annualized Premium Equivalent INR (Rs.) Indian Rupees AUM Assets Under Management SSS Salary Saving Scheme Traditional Banca Bancassuran
Slide 23: Disclaimer
Disclaimer This presentation has been prepared for general information purposes in respect of Life Insurance Corporation of India (“Corporation”) together with its subsidiaries (collectively, the “Group”) only, without regard to any specific objectives, suitability, financial situations and needs of
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