The firm's new business profit also rose 12% to US$1.96bn for the first 9 months of 2025, driven by a 6% increase in annual premium equivalent and a stronger profit margin.
The Japan edition of SAP Fioneer Cloud for Insurance includes features tailored for local regulatory and business needs, with support and implementation managed by Fujitsu.
The agreement expands LIC’s reach by adding YES Bank’s 1,295 branches and 235 business correspondent outlets to its network of more than 3,600 locations.
S&P raised Income Insurance’s stand-alone credit profile to ‘a+’ and maintained its stable outlook, citing improved capital clarity and continued government support expectations.
