Life Insurance Corporation of India (LICI) Q4 13/14 earnings summary

Executive summary

• FY2013-14 total income was ₹377,849 crore; net income including linked-fund fair-value changes was ₹380,042 crore. Premium income rose 13.52% YoY to ₹236,798 crore.

• New individual business covered 3.42 crore policies; total life fund reached ₹16,07,025 crore, and total investments were ₹16,84,690 crore at year-end.

Financial highlights

• Total premium income was ₹236,798 crore, up 13.52% YoY; investment income was ₹118,097 crore versus ₹103,882 crore.

• Shareholders’ account profit after tax was ₹1,656.68 crore versus ₹1,437.59 crore; profit before tax was ₹1,668.22 crore.

• Life valuation surplus was ₹32,685 crore; policyholder surplus allocation followed a 95:5 distribution, with ₹1,634 crore paid to the Central Government.

• Claims paid totaled ₹91,186 crore across 259 lakh claims, versus ₹74,078 crore across 183.63 lakh claims in FY2012-13.

Outlook and guidance

• FY2014-15 new-business plan: 3.68 crore policies and ₹35,000 crore total premium, comprising ₹16,085.50 crore single and ₹18,914.50 crore non-single premium.