Higher capital charges on the insurer's investments outpaced growth in its available capital, while cautious risk selection kept its agricultural book profitable.
Lower natural catastrophe losses and accumulated fire insurance rate revisions outweighed persistent inflation in automobile claims across fiscal-year 2025, while overseas profit growth added support.
Earnings diversification has increased as overseas and group businesses account for a larger share of profits, supported by expansion in the US market.
The name change, which took effect on 22 September, follows efforts by UK-based joint venture partner Prudential to transition from promoter to investor status in the insurer.
The reported bid follows a series of LIC investments across India's financial sector, including moves to increase its holdings in ICICI Bank and HDFC Bank.
