The private sector life insurance industry, led by HDFC Life (with a total premium of Rs 4966 crore), has grown by 12 per cent y-o-y to Rs 20, 411 crore during the first two months of the fiscal. State owned Life Insurance Corporation(LIC) has increased its premium by 10 per cent y-o-y to Rs 32,016 in April- May period.
New Delhi: Life insurers, at Rs 52.427 crore, recorded a 10.8 per cent increase in their total new business premium collection in the first two months of the current fiscal.
New business premium income rose to Rs 30,463 crore in May 2025 from Rs 27,034 crore in the same month a year ago.
The collection in the first two months of FY2025-26 rose to Rs 52,427 crore from Rs 47,293 crore in the April-May period of 2024-25, the data showed.
However, the total number of policies life insurers have sold have fallen by 11.60 per cent to 28, 19.089 policies in the April- May period.
The private sector life insurance industry, led by HDFC Life (with a total premium of Rs 4966 crore), has grown by 12 per cent y-o-y to Rs 20, 411 crore during the first two months of the fiscal. State owned Life Insurance Corporation(LIC) has increased its premium by 10 per cent y-o-y to Rs 32,016 in April- May period.
LIC, the country’s largest life insurer, new business premium grew 10.27 per cent to Rs 18,405.04 crore in May 2025 from Rs 16,690.39 crore in the same month a year ago.
The company reported a 13.79 per cent increase in group premiums for May 2025. For the first two months of the fiscal 2026, group premium grew 13.66 per cent, as per the data.
This strong performance is attributed to life insurers’ focus on encouraging first-time buyers to secure essential life insurance solutions, contributing to a 3.35 per cent growth in combined individual premium collections for May 2025 and 2.46 per cent growth on a year-to-date basis, it said.
According to data released by the council, the life insurance industry saw individual single premiums grow by 5.21 per cent year-on-year to close at Rs 3,525 crore for May 2025, with April-May growth standing at 4.89 per cent.