News ArticleLife Insurance Corporation of India Reports Q2 FY 2027 Results and Appoints Smt Naga Nalini Kalluri as Chief Compliance Officer
Board approves unaudited financial results for quarter and half-year ended September 30, 2026; leadership change effective November 6, 2026
Life Insurance Corporation of India announced unaudited standalone and consolidated financial results for Q2 and H1 FY 2027 ending September 30, 2026. The Board also appointed Smt Naga Nalini Kalluri as the new Chief Compliance Officer and Key Managerial Personnel effective November 6, 2026, replacing Shri Jayasimhan Madabhushi Matam Tirumala.
Life Insurance Corporation of India
Financial Results
Life Insurance Corporation of India disclosed its unaudited standalone and consolidated financial results for the quarter and half-year ending September 30, 2026. Additionally, the board appointed Smt Naga Nalini Kalluri as Chief Compliance Officer and Key Managerial Personnel, effective November 6, 2026, replacing the outgoing officer.
The Board meeting was held on November 5, 2026, concluding after the approval of the unaudited financial results and key personnel changes.
The financial results include both standalone and consolidated figures for Q2 and H1 FY 2027, along with the Limited Review Report provided by independent auditors.
Smt Naga Nalini Kalluri, with extensive experience in LIC since 1991 and a background in management and insurance, was appointed as Chief Compliance Officer and KMP. She replaces Shri Jayasimhan Madabhushi Matam Tirumala whose cessation is effective November 6, 2026.
The appointment is based on the recommendation of the Nomination & Remuneration Committee and holds until superannuation or further orders.
The unaudited results reflect regulatory approvals involving amortisation related to family pension contributions and replenishment of expenses from shareholders as per regulatory provisions.
Highlights
- Unaudited standalone and consolidated financial results approved for Q2 and half-year ended September 30, 2026.
- Smt Naga Nalini Kalluri appointed Chief Compliance Officer and Key Managerial Personnel effective November 6, 2026.
- Appointment follows Nomination & Remuneration Committee recommendation.
- Outgoing Chief Compliance Officer Shri Jayasimhan Madabhushi Matam Tirumala ceased from the role effective November 6, 2026.
- Amortisation of Rs. 9,280.37 crore family pension additional contribution commenced from FY 2023-24 at Rs. 464.02 crore per quarter.
- Replenishment of Rs. 7,230.09 crore excess management expenses in Par segment for FY 2022-23 forthcoming as per regulatory approval.
Key Data Snapshot
What happened
- LIC approved unaudited standalone and consolidated financial results for Q2 and half-year FY 2027 ending September 30, 2026.
- Board appointed Smt Naga Nalini Kalluri as Chief Compliance Officer and Key Managerial Personnel, replacing Shri Jayasimhan Madabhushi Matam Tirumala effective November 6, 2026.
Key details
- Smt Naga Nalini Kalluri has been with LIC since 1991 with multiple administrative roles and regulatory compliance experience.
- Her appointment term extends until superannuation or further orders.
- Unaudited financial results accompanied by the Limited Review Report were submitted in compliance with SEBI and IRDAI regulations.
- Financial notes include regulatory-approved amortisation of Rs. 9,280.37 crore for family pension contribution spread over 20 quarters starting FY 2023-24.
- Rs. 464.02 crore charged per quarter to revenue account as part of this amortisation during Q2 FY 2027.
Regulatory and governance context
- Changes comply with SEBI Listing Regulations and IRDAI circulars.
- Appointment approved on Nomination & Remuneration Committee recommendation.
- Financial results prepared according to Indian Accounting Standards and Insurance sector regulatory frameworks.
- Independent auditors conducted a limited review confirming compliance with applicable accounting and regulatory requirements.
Next milestones
- Amortisation of family pension contribution to continue over the next quarters until FY 2028-29.
- Shareholders' replenishment related to Par segment expenses to proceed as per regulatory approval.
- Ongoing disclosures and updates to be made available on LIC website.
Highlights
- Unaudited standalone and consolidated financial results approved for Q2 and half-year ended September 30, 2026.
- Smt Naga Nalini Kalluri appointed Chief Compliance Officer and Key Managerial Personnel effective November 6, 2026.
- Appointment follows Nomination & Remuneration Committee recommendation.
- Outgoing Chief Compliance Officer Shri Jayasimhan Madabhushi Matam Tirumala ceased from the role effective November 6, 2026.
- Amortisation of Rs. 9,280.37 crore family pension additional contribution commenced from FY 2023-24 at Rs. 464.02 crore per quarter.
- Replenishment of Rs. 7,230.09 crore excess management expenses in Par segment for FY 2022-23 forthcoming as per regulatory approval.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Insurance Regulatory and Development Authority Act, 1999
- Life Insurance Corporation Act, 1956
- IRDAI Circular reference: IRDAI/F&I/REG/CIR/208/10/2016
- Accounting Standard 25 (Interim Financial Reporting)
- Insurance Regulatory and Development Authority of India (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024
Source Information
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