Non-life insurers post 13.5% premium growth to Rs 33,688 cr in April

Gross direct premium underwritten by non-life insurers rose 13.5 per cent YoY in April to Rs 33,688 crore, led by growth in general and standalone health insurance

Gross direct premium underwritten by non-life insurers grew 13.5 per cent year-on-year (YoY) to Rs 33,688.48 crore in April, supported by healthy growth in premiums from multiline general insurers and standalone health insurers.

 

According to data released by the General Insurance Council, general insurance companies recorded 14 per cent YoY growth in premiums to Rs 30,662 crore, while standalone health insurance companies posted an 11 per cent YoY growth to Rs 2,932.8 crore.

 

Premium figures are not directly comparable with the same period last year (April 2024) due to a change in the accounting format by the insurance regulator, effective from October last year.

 

 

Among major general insurers, state-owned New India Assurance reported a 14.6 per cent YoY rise in premiums to Rs 6,026 crore. ICICI Lombard General Insurance saw a 6.72 per cent increase to Rs 3,592 crore, while Bajaj Allianz General Insurance's premium remained flat at Rs 2,402.8 crore.

 

National Insurance Company posted a 10.92 per cent rise to Rs 1,533.53 crore, Oriental Insurance saw a sharp 56.53 per cent YoY growth to Rs 2,692.88 crore, and United India Insurance recorded a 3.44 per cent increase to Rs 2,093.11 crore.

 

Among standalone health insurers, the largest player—Star Health & Allied Insurance—reported a 4.63 per cent YoY rise in premium to Rs 1,060.13 crore. Care Health Insurance posted 8.72 per cent growth to Rs 724.48 crore.

 

Meanwhile, specialised insurers saw their premium decline 20.25 per cent YoY to Rs 93.44 crore in April 2025.

 

The market share of general insurers in April stood at 91.02 per cent, up from 90.70 per cent in April 2024. The share of standalone health insurers dropped to 8.71 per cent from 8.90 per cent in the same period.