Non-life insurance premiums drop 2.82% in February; health insurers lead growth

Non-life insurance premium data for February 2025

India's non-life insurance sector saw a 2.82 percent year-on-year decline in gross direct premium underwritten in February 2025, totalling Rs 21,747.57 crore, according to provisional data.

The general insurance segment reported a 4.84 percent decline in February, with total premiums falling to Rs 17,399.34 crore from Rs 18,283.50 crore a year ago. Major players, including HDFC Ergo (-34.29 percent), United India Insurance (-14.30 percent), and Future Generali (-11.30 percent), recorded significant contractions.

However, a few insurers bucked the trend: Tata AIG General Insurance saw a 10.48 percent increase, and Shriram General Insurance grew 21.50 percent over last year.

In contrast, standalone health insurers grew by 7.80 percent, with total premiums reaching Rs 3,234.59 crore.

Aditya Birla Health Insurance recorded the highest growth at 27.23 percent, followed by Niva Bupa Health Insurance (26.41 percent)

Star Health & Allied Insurance posted a modest 0.92 percent increase in February.

Premiums for specialised insurers, such as Agriculture Insurance Co. of India and ECGC Ltd, remained stable, growing 1.79 percent year-on-year to Rs 1,113.64 crore.