Up from 222 in 2024: Brand Finance Global 500 2025; In terms of performance, LIC achieved a 14.64% year-on-year (YoY) growth in new business premiums for the calendar year 2024.
FinTech BizNews Service
Mumbai, January 21, 2025: Life Insurance Corporation of India (LIC), the country's largest insurer, jumps 45 places to rank 177 in 2025 from rank 222 in 2024, according to a Brand Finance Global 500 2025 report.
In terms of performance, LIC achieved a 14.64% year-on-year (YoY) growth in new business premiums for the calendar year 2024. This growth outpaced the insurance sector's overall growth of 14.41% and the 14.55% rise seen among private life insurers, as per data from the Life Insurance Council.
During this period, LIC collected ₹2,33,073.36 crore in premiums, marking a 14.64% increase compared to ₹2,03,303 crore in 2023. The overall life insurance industry recorded ₹4,02,773.18 crore in premiums, reflecting a 14.55% YoY increase from ₹3,51,626.20 crore. Meanwhile, private life insurers reported ₹1,69,699.83 crore in premium collections, a 14.41% rise from ₹1,48,323.21 crore in the previous year.
The Bima Sakhi scheme has been met with a positive response nationwide. Within a month of its launch, there were 52,511 registrations, with 27,695 Bima Sakhis receiving appointment letters to sell policies and 14,583 already actively selling them.
