Life Insurers

The insurance chiefs in a letter submitted to the finance ministry officials on Friday sought for implementation of the new GST rates on a prospective basis, while allowing for ITC on renewal premiums

Indian life insurers registered a 6.01 per cent growth in new business premiums (NBPs) in August 2025, driven by higher sales of both single and non-single premium policies, a release said on Tuesday. NBPs increased to Rs 1,63,461.52 crore in August this year, compared to Rs 1,54,193.76 crore in the corresponding period last year, according to data released by the Life Insurance Council. Individual single premiums grew 9.71 per cent, while individual non-single premiums rose 4.51 per cent during the period. Combined individual premium collections posted a 6.20-per cent growth on a YTD basis, it showed. The council said the growth was supported by insurers' focus on expanding coverage among first-time buyers and strengthening distribution. Life insurers added more than 4.37 lakh individual agents, though cumulative agent count registered a modest 2.75 per cent growth, due to attrition, the release said. Agent addition along with the rapid pace of digitisation is expected to further

Many players in the industry have rebalanced their portfolios, shifting towards par products after a period of being ULIP-heavy and relying on non-par products to drive topline and margins

Private sector life insurers, including SBI Life, ICICI Prudential Life, and HDFC Life, see a moderation in ULIP business growth in Q1 FY26

Life insurers recorded a 10.8 per cent increase in new business premium collection in the first two months of the current fiscal. The new business premium collection rose by 12.6 per cent in May 2025, according to data released by the Life Insurance Council on Monday. New business premium income rose to Rs 30,463 crore in May 2025 from Rs 27,034 crore in the same month a year ago. The collection in the first two months of FY2025-26 rose to Rs 52,427 crore from Rs 47,293 crore in the April-May period of 2024-25, the data showed. This strong performance is attributed to life insurers' focus on encouraging first-time buyers to secure essential life insurance solutions, contributing to a 3.35 per cent growth in combined individual premium collections for May 2025 and 2.46 per cent growth on a year-to-date basis, it said. According to data released by the council, the life insurance industry saw individual single premiums grow by 5.21 per cent year-on-year to close at Rs 3,525 crore fo

Diversified insurers like ICICI Prudential Life Insurance or IPRU may be better positioned while those reliant on parent bancassurance

The companies had to launch all their products as per the new norms by December 31, 2024

Higher claims and operating expenses to impact non-life insurers' combined ratio

Unclaimed amounts often result from outdated customer details, making it difficult for insurers to trace policyholders or their nominees

HDFC Life Insurance - the second largest life insurer in the country - has increased their term life insurance premiums by about 5 per cent for Rs 50 lakhs and above, as per distributors

Private insurers log 18% yearly increase at Rs 13,216.51 cr, according to data

The revision is effective October 1, 2024, 'LIC New Endowment Plan-914' is a participating endowment plan that offers the dual benefit of protection-cum-savings plan

In H1, new business premiums of life companies was up 19% YoY

The life insurance companies, through the council, had sought a three-month extension from Irdai on implementing the new norms

Non-life firms to post strong premium growth, benefit from low claims ratio

To push Non-par policy sales till Sep 30

According to analysts at Motilal Oswal, VNB margins for all life insurance players declined from the previous year due to adverse product mix and pressure on non-par margins

In the financial year ended March 31, 2024, NBP grew 2 per cent, mainly due to LIC, which saw a decline of 4 per cent. Private sector players reported a growth of 12 percent in FY24

The company said that it has appointed Keki M Mistry as the chairman of the Board

In March 2023, there was a surge in the sale of high-value non-participating policies after the Union Government's revision in taxation norms