One of the noteworthy features of the industry, in FY26, is the growth story of seven Standalone Health Insurers(SAHI), which have, led by Start Health Insurance,grown their total premium by 19.40 per cent to Rs 45,865 crore and have expanded their market shares to 3.64 per cent in FY26 from 12.50 per cent in FY 25.
Among top five general insurers , except NIA, which has recorded a double digit growth, rest have lost their market shares.
Mumbai:Recovering from a period of slow down, Indian general insurance industry, led by New India Assurance(NIA), has grown by 9.29 per cent to Rs 3.36 trillion in its total premium in FY 26.
In FY 25, with a growth of 6.20 per cent. the industry had a total premium of Rs3.07 trillion.
One of the noteworthy features of the industr,y in FY26, is the faster growth story of seven Standalone Health Insurers(SAHI), which have, led by Start Health Insurance, grown their premium by 19.40 per cent to Rs 45,865 crore and have expanded their market share to 13.64 per cent in FY26 from 12.50 per cent in FY 25. All the seven companies have managed to stretch their own market shares. Star Health’s topline has surged by 11.30 per cent to Rs 18,605 per cent in FY 26.
Health portfolio is now the largest line of business in Fy26 followed by Motor and Crop.
The multiline general insurers have grown their topline by 8per cent to Rs2,78.608 crore ,though have lost their market share from 83.90 per cent in FY 25 to 82.88 per cent in FY 26
Among top five general insurers, except NIA, which has recorded a double digit growth, rest have lost their market shares.
Market leader NIA’s total domestic premium has grown by almost 11 per cent to Rs 42,821 crore in FY26. It’s market share has moved up front 12.56 per cent in FY 25 to 12.74 per cent in FY26.
ICICI Lombard General Insurance, the second largest Indian general insurer, has restricted its topline growth to 7 per cent with a Rs 28,712 crore of premium in FY 26 while degrowing its market share from 8.72 per cent in FY 25 to 8.54 per cent in FY 26.
Third largest general insurer , Bajaj General Insurer, has enlarged its premium by 8.23 per cent to Rs 23,178 crore in FY 26 though have seen a contraction in its market share from 6.96 per cent in FY 25 to 6.90 in FY 26.
The fourth and fifth largest are PSU general insurers, United India Insurance(UII) and Oriental Insurance Company(UII). respectively. UII has stretched its topline by almost 7 per cent to Rs 21,422 crore in FY26 while OIC has expanded its total premium by 4.62 per cent to Rs 20,703 crore in FY 26.
General insurers, which have crossed Rs 15,00 crore premium in FY 26, are- Tata Aig General Insurance(Rs20,000 crore, with growth of 13,26 per cent), SBI General Insurance(Rs15,904 crore, 14.51 per cent), HDFC General Insurance(Rs15,025 crore, with degrowth of 5 per cent).
State owned Agriculture Insurance Company(AIC), with a premium of 10,216 crore, has recorded a growth of 5 per cent
March
During the month of March, the general insurance industry has seen a growth of 8.78 per cen to Rs 28,922 crore.
NIA has expanded its total domestic premium by 13.34 per cent to Rs3276 crore while ICICI Lombard General Insurance has enlarged its topline by almost 21 per cent to Rs 2185 per cent during the month.
Bajaj General Insurance has degrown its total premium by 2 per cent to Rs 1384 crore in March.
SAHIs have mobilised a total premium of Rs5,852 crore, up by 22 per cent , in March