Page 16 - The Insurance Times August 2025

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LIC's Premium Collection Rises 3.31% in Q1FY26 to Life Insurers Launch Rs. 450
Rs. 59,410 Crore Cr Multimedia Campaign

Life Insurance Corporation of India reported a 3.31% year-on-year growth to Boost Penetration
in total premium collection to Rs. 59,410 crore for the April-June 2025 India's life insurance industry has
quarter. Individual premium rose 5.34% to Rs. 12,503 crore, while group launched a fresh Rs. 450-crore
premium grew 2.93% to Rs. 46,907 crore.
nationwide campaign to increase
Despite the increase in premium, policy issuance declined to 30.43 lakh from insurance penetration, amid growing
35.72 lakh in the same period last year. LIC outperformed private life insurers concerns over falling coverage. Led by
in June with a 14.60% rise in individual premiums. However, group premium the Insurance Awareness Committee
collections for June fell to Rs. 22,082 crore from Rs. 23,731 crore in the (IAC-Life), the 'Sabse Pehle Life
previous year. Insurance' campaign will run over three
Overall new business premium declined 3.43% to Rs. 27,395 crore in June years, with Rs. 150-160 crore
2025. The data suggests that while LIC continues to lead in market share, allocated annually. Ad veteran Piyush
subdued policy issuance and lower group collections may warrant strategic Pandey is the creative advisor.
realignment in its distribution and product mix.
The campaign will target three major
segments-protection, annuity, and
Life Insurance Council insurance penetration to 2.8% in FY24 child savings plans-using multilingual
from 3% in FY23, despite a 6.1% and multimedia channels. Insurance
Allocates Rs. 450 Crore for growth in total premiums to Rs. 8.29 penetration has declined from 4% of
Awareness Campaign trillion. The new campaign targets GDP in FY23 to 3.2% in FY25. The
three critical segments: protection,
The Life Insurance Council has annuity, and child savings plans. protection gap rose to 87% in 2023,
announced a three-year nationwide with over 90% among 18-35-year-olds.
Advertising veteran Piyush Pandey will
awareness campaign, 'Sabse Pehle Life IAC Chair Kamlesh Rao said the
guide the initiative as creative mentor.
Insurance', committing Rs. 150-160 campaign marks a shift from general
Regulatory support has also come from
crore annually to enhance life awareness to product-specific
IRDAI Member (Life) Swaminathan
insurance penetration. The Insurance messaging. IRDAI Member (Life)
Iyer, who emphasized the long-term
Awareness Committee, comprising 27 Swaminathan Iyer described the
commitment required for impactful
insurers and led by Kamlesh Rao, aims change. The campaign, focusing on initiative as a long-term marathon
to drive behavioural change and boost
regional languages and digital-first requiring consistent engagement. The
policy uptake through multimedia
strategies, comes amid rising concern campaign aims to drive behavioural
efforts. over the protection gap, especially change and encourage product
The campaign follows a dip in life among individuals aged 18-35. adoption across India.

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