LIC share price hits new 1-year low, down over 32% from record high
Live MintShares of Life Insurance Corporation, India's largest life insurer, touched a new 52-week low of ₹806 apiece on Tuesday, January 14, breaking below its previous low of ₹820 apiece. LIC maintained a dominant 64.4% market share in group business, even as its premiums fell by more than half compared to the high base of last December, JM Financial added. A strong channel push in September 2024—before the discontinuation of older products under the new surrender regulations—delivered ~47% Retail Annualized Premium Equivalent growth in that month. With the implementation of new surrender regulations, LIC has increased the minimum ticket size for many of its products, leading to a sharper decline in policy counts and affecting APE growth. However, poor retail new business trends, the Insurance Amendment Act proposal to open up the individual agents’ channel, and the risk of the Old Tax Regime for Individual Taxation sunsetting in the upcoming Union Budget will likely keep LIC shares range-bound, Emkay Global noted in its sector report.