Non-life insurers' premium grows 13.5% in April 2025, driven by health and general segments

General insurance companies

India’s non-life insurance industry recorded a strong 13.5 percent year-on-year growth in gross direct premium underwritten in April 2025, reaching Rs 33,688.48 crore, according to provisional figures from the General Insurance Council.

The growth was led primarily by the general insurance and standalone health insurance sectors, while specialised insurers witnessed a notable decline, the data showed.

General insurers, which dominate the market, reported a 13.91 percent rise in premiums to Rs 30,662.19 crore as compared to Rs 26,918.88 crore in April 2024.

Among them, public sector heavyweight The New India Assurance Co Ltd remained the top contributor with Rs 6,026.63 crore in premiums, registering a 14.6 percent growth. The Oriental Insurance Co Ltd followed with Rs 2,629.88 crore, up a significant 56.53 percent year-on-year. United India Insurance Co Ltd recorded a moderate 3.44 percent growth at Rs 2,093.11 crore.

ICICI Lombard General Insurance Co Ltd collected Rs 3,592.23 crore in premiums, up 6.72 percent, while Tata AIG General Insurance Co Ltd rose 18.4 percent to Rs 2,060.38 crore.

SBI General Insurance Co Ltd posted one of the strongest showings with premiums growing 42.69 percent to Rs 1,290.58 crore.

Other notable growth figures came from Shriram General (32.44 percent), Liberty General (29.17 percent), and Go Digit (12.39 percent).

On the downside, HDFC Ergo General Insurance saw premiums fall 6.22 percent to Rs 1,619.92 crore.

Standalone health insurers reported a 10.99 percent rise in premiums, totalling Rs 2,932.85 crore.

Star Health & Allied Insurance led the segment with Rs 1,060.13 crore, up 4.63 percent. Care Health Insurance and Niva Bupa Health Insurance posted similar growth rates of around 8.7 percent, while Aditya Birla Health Insurance stood at 22.59 percent growth.

ManipalCigna also saw a 14 percent increase. New entrants Galaxy Health Insurance and Narayana Health Insurance began operations with premiums of Rs 3.39 crore and Rs 39.61 crore, respectively.

Specialised insurers were the only laggards, with combined premiums falling 20.25 percent to Rs 93.44 crore. Agriculture Insurance Co of India Ltd saw its premiums plunge by 81.37 percent to just Rs 5.78 crore. ECGC Ltd, the other specialised player, recorded a marginal 1.76 percent increase at Rs 87.66 crore.

The Insurance Regulatory and Development Authority of India (IRDAI) recently revised the reporting format to exclude long-term policy premiums from data disclosures starting October 2024.

This change affects comparability with last year’s figures, as companies have adjusted current year data accordingly.