Non-life insurers' premium grows 13.17% in September; Acko, United India lead

General insurance companies' NBP data for September 2025

India's non-life insurance industry reported a 13.17 percent year-on-year rise in gross direct premium underwritten in September 2025 to Rs 31,177.59 crore, as against the Rs 27,549.79 crore in the same month last year, according to provisional data released by the Insurance Regulatory and Development Authority of India (IRDAI).

Cumulatively, gross direct premiums written by non-life insurers for the April–September period stood at Rs 1,65,161.92 crore, up 7.32 percent from Rs 1,53,894.40 crore in the corresponding period of the previous year.

General insurers

General insurers, which form the bulk of the non-life segment, recorded a modest 1.94 percent rise in premium for the month at Rs 23,430.96 crore. Their cumulative premium for the first half of FY26 stood at Rs 1,38,159.80 crore, a growth of 5.27 percent year-on-year.

Among private players, Bajaj Allianz General Insurance saw strong growth with premiums up 31.35 percent in September at Rs 2,218.80 crore. Acko General Insurance also reported a sharp rise of 54.4 percent to Rs 273.42 crore. United India Insurance reported a robust 23.36 percent growth at Rs 1,626.98 crore.

On the other hand, several insurers saw declines during the month. HDFC Ergo General Insurance’s premium fell 3.78 percent year-on-year to Rs 1,667.24 crore, while National Insurance reported a 20.12 percent decline to Rs 1,259.45 crore. Reliance General Insurance also saw a 12.36 percent dip to Rs 1,719.79 crore.

The New India Assurance Company, the country’s largest non-life insurer, reported a moderate 3.52 percent rise in premium during the month to Rs 3,252.03 crore, while its cumulative premium for the fiscal so far increased 12.86 percent to Rs 21,884.50 crore.

Health insurers

Standalone health insurers recorded steady growth, with total premiums for September at Rs 3,492.71 crore, up 3.09 percent from Rs 3,387.94 crore last year. For the first six months of FY26, their cumulative premium rose 7.72 percent to Rs 19,623.95 crore.

Aditya Birla Health Insurance registered a strong 11.42 percent rise in premium to Rs 513.44 crore, while Star Health and Allied Insurance, the largest player in the segment, grew 3.36 percent to Rs 1,518.69 crore. Care Health Insurance saw a modest increase of 1.79 percent to Rs 723.20 crore, whereas ManipalCigna Health Insurance's premium declined 6.98 percent to Rs 135.59 crore.

Specialised insurers surge on crop cover

The specialised insurers’ segment saw the sharpest jump, growing 261.52 percent in September to Rs 4,253.92 crore from Rs 1,176.66 crore last year, driven largely by Agriculture Insurance Company of India, which reported a near threefold surge in premiums to Rs 4,119.16 crore.

Export Credit Guarantee Corporation (ECGC) posted a flat performance with a marginal rise of 0.22 percent in monthly premium to Rs 134.76 crore.

Cumulatively, specialised insurers’ gross premiums grew 66.43 percent in the April–September period to Rs 7,378.17 crore from Rs 4,433.22 crore last year.

Overall, general insurers continued to dominate the market with an 83.65 percent share, followed by standalone health insurers at 11.88 percent and specialised insurers at 4.47 percent.