Life Insurance Company (LIC) has lost more than 300 basis points market share gain in just 2 months (December to January) for the year. On year-to date (YTD) basis, the market share of the insurance behemoth is 146 basis points up. In percentage terms, the market share of LIC was 65.38 percent in December 2022. The difference between November to January is 3.02 percent down.

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All other listed private players have gained market share in January on month-on-month basis. In percentage terms, the difference between November to January for HDFC Life is 0.53 percent up. For ICICI Prudential and Max life, it is 0.25 percent and 021 percent respectively. For SBI life, it is 0,85 percent.

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For the year, all private life insurers are still in red except for SBI Life Insurance and LIC. The YTD market share growth for HDFC Life is negative at 0.86 percent. It is negative at 0.47 percent for ICICI Prudential. For Max Life, it is 0.41 percent negative.

Shares of LIC on Monday hit new low of Rs 605.10 apiece on National Stock Exchange (NSE).

Last week, the company reported a net profit of Rs 8,334.19 crore for the third quarter that ended December 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs 235 crore. The company earned Rs 1,11,787.6 crore in net premium income during the reporting quarter as against Rs 97,620.34 crore in the year-ago period, it said in a regulatory filing.

The Assets Under Management (AUM) increased to Rs 44,34,940 crore as on December 31, 2022, as compared to Rs 40,12,172 crore on December 30th, 2021 registering an increase of 10.54 percent year-on-year.

On an annualised premium equivalent (APE) basis, the total premium was Rs 37,545 crore for the nine months ending December 31, 2022. Of this, Rs 23,419 crore (62.38 percent) was accounted for by the individual business and Rs 14,126 crore (37.62 percent) by the group business.

During the nine months ending December 31, 2022, a total of 1.29 crore policies were sold in the individual segment, thereby registering an increase of 1.92 percent over the nine months ending December 31, 2021, when 1.26 crore policies were sold.

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(Edited by : Anshul)