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Non-life Insurance
India's non-life insurance industry registered a 5.2 per cent increase year-on-year in premiums to Rs 23,422.5 crore in June 2025, according to a report released by CareEdge Ratings on Wednesday. This was lower than the 8.4 per cent growth recorded in June 2024. "The transition to the 1/n rule has impacted the industry's performance, resulting in a slowdown in health insurance growth to single digits and muted growth in the passenger vehicle (PV) segment, which was partially offset by renewals in the commercial lines," the report noted. Despite the moderation in premium growth, non-life insurance premiums crossed the Rs 3-lakh crore mark in FY25, driven by supportive regulations, rising insurtech adoption, accelerating digitalisation, and an expanding middle class, the report said. Moreover, the government's Bima Trinity push is poised to accelerate growth in the non-life insurance sector. Further, standalone health insurers are expected to maintain their dominance in the retail ..
Despite flat general insurance penetration in the country, the non-life insurers are expecting to register double-digit growth in 2025 with a conducive regulatory environment and launch of innovative products catering to specific customer needs, stakeholders said on Thursday. The industry is also expected to meet this expectation if it receives a favourable outcome on GST relief and a revisit of motor third-party rates, a top private insurer said. "While health insurance will continue to drive growth in the coming years, there will likely be significant expansion in non-motor and non-health segments, such as pet insurance, liability, professional indemnity, and housing insurance," Future Generali India Insurance Company Ltd managing director & CEO Anup Rau said. The industry estimates a 14 per cent annual growth rate and is expected will witness significant developments as the sector "emerges as a true partner in progress, integrating digital fabric, delivering hyper-personalised .