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Mumbai: The Life Insurance Corporation of India on Tuesday reported a 38 per cent jump in net profit to Rs 19,013 crore for the January-March quarter of the financial year 2024-25 compared to the corresponding figure of Rs 13,763 crore in the same period of the previous year.

The company declared a final dividend of Rs 12 per share for FY25. The Board has fixed July 25, 2025, as the “record date” for ascertaining the eligibility of members of the corporation for the proposed final dividend, the LIC said in a stock exchange filing.

The LIC’s net premium income in the fourth quarter of FY25 was Rs 1.47 lakh crore, compared with Rs 1.52 lakh crore in the same quarter of the previous year.

As on March 31, 2025, the insurer’s solvency ratio was at 2.11 times as against 1.98 times a year ago.

The net profit for the financial year ended March 31, 2025, was Rs 48,151 crore as compared to Rs 40,676 crore for the year ended March 31, 2024, registering an increase of 18.38 per cent.

In terms of market share measured by First Year Premium Income, the LIC continues to be the market leader by market share in the Indian life insurance business with an overall market share of 57.05 per cent. For the year ended March 31, 2025, it had a market share of 37.46 per cent in the Individual business and 71.19 per cent in the Group business, according to a company statement.

The total premium income for the year ended March 31, 2025, was Rs 4,88,148 crore as compared to Rs 4,75,070 crore for the year ended March 31, 2024.

The net VNB margin for the year ended March 31, 2025, increased by 80 bps to 17.6 per cent as compared to 16.8 per cent for the year-ago period.

On May 27, the price of LIC shares on NSE settled at Rs 870.7 apiece.