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For these reasons LIC share price has dropped – Times Bull

For these reasons LIC share price has dropped

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LIC Annual Premium : Today, shares of Life Insurance Corporation (LIC) experienced a decline of approximately 4 percent, reaching an intra-day low of Rs 947.50. This drop is attributed to a 27 percent decrease in the company’s annual premium. Specifically, the annual retail premium equivalent (APE) for LIC fell by 12.4 percent, amounting to Rs 2,215.5 crore in November 2024, compared to Rs 2,528.4 crore in November 2023. During the same timeframe, the total APE decreased by 19.4 percent, from Rs 3,915.3 crore to Rs 3,154 crore.

In November of this year, both total and retail APE saw declines of 19 percent and 12 percent, respectively. Conversely, the market share of private insurance firms increased to 18 percent during the same month. Private life insurance companies reported a healthy year-on-year growth of 15.3 percent in individual APE for November 2024.

SBI Life and HDFC Life experienced year-on-year declines

In contrast, SBI Life and HDFC Life experienced year-on-year declines in APE of 8.5 percent and 2.7 percent, respectively. Overall, while LIC’s individual APE reached Rs 8,520 crore, private insurers accounted for 74 percent of this total. Year-on-year, shares of IPRU and Max Life saw significant gains of 28.1 percent and 24.8 percent, respectively.

LIC reported a 4 percent decrease in its standalone net profit

Additionally, LIC reported a 4 percent decrease in its standalone net profit, totaling Rs 7,621 crore for the third quarter ending in September, down from Rs 7,925 crore in the same period last year. Notably, LIC’s stock has fallen by 2.6 percent over the past five trading days, although it has risen by 3.4 percent in the last month. Over the past six months, the life insurance company’s stock has decreased by 4.75 percent.

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