rewrite this title and make it good for SEOLIC declares Rs 12 final dividend after strong FY25 earnings, sets record date

Life Insurance Corporation of India (LIC) has recommended a final dividend of Rs 12 per equity share for the financial year 2024–25. The dividend is subject to approval by shareholders at the upcoming Annual General Meeting (AGM).

The company’s Board has also fixed July 25 as the record date to determine the eligibility of shareholders for the proposed dividend payout. Investors who hold LIC shares as of the record date will be eligible to receive the final dividend post-AGM approval.

The dividend announcement follows a strong financial performance by LIC for the year ended March 2025. The company posted a profit after tax of Rs 48,151 crore, marking an 18.38% growth from Rs 40,676 crore in FY24. The total premium income stood at Rs 4,88,148 crore, up from Rs 4,75,070 crore in the previous year.

LIC, India’s largest life insurer, continues to dominate the market with a 57% market share based on first-year premium income (FYPI). For the individual insurance segment, its market share stood at 37%, and for group insurance, it was 71%.

The Board also announced that LIC has allocated Rs 56,190 crore as bonuses to policyholders for FY25, further highlighting its strong policyholder engagement. The insurer’s embedded value rose to Rs 7.76 lakh crore, up 6.81 percent from last year, while assets under management grew to Rs 54.5 lakh crore, showing a 6% increase.

Another notable milestone for LIC this year was earning a Guinness World Record for the “most life insurance policies sold in 24 hours,” by selling over 5.88 lakh policies on January 20, 2025.LIC’s VNB (Value of New Business) increased to Rs 10,011 crore, while its VNB margin improved to 17.6%, showing strength in profitability. The company’s solvency ratio also improved to 2.11, indicating a solid financial cushion.In the fourth quarter, LIC reported a 38% YoY growth in its net profit at Rs 19,039 crore versus Rs 13,782 crore in the year ago period.