General insurance companies reported a 10.5% increase in gross direct premium income to ₹32,761 crore in October. Standalone health insurers performed well, showing a 21.29% growth. Private players like HDFC ERGO and SBI General led the way, while some public sector firms also saw gains despite a few companies that fell.
General insurance companies in India saw a 10.5% increase in gross direct premium income in October. Standalone health insurers also reported significant growth, outperforming general insurers in several areas. HDFC ERGO and SBI General led the performance among private insurers with impressive increases in premium income. Public sector insurers like National Insurance also experienced growth, though some faced declines.
Mumbai: General insurance companies reported a 10.5% year-on-year increase in gross direct premium income to ₹32,761 crore in October, led by strong growth in standalone health insurers and private general insurers, according to provisional data released by the General Insurance Council.
General insurers recorded a 10.15% increase in premium income to ₹28,062 crore during the month, while standalone health insurers (SAHIs) reported a 21.29% growth to ₹4,549 crore.
Among general insurers, HDFC ERGO recorded a 34.87% increase in premium income to ₹1,662 crore in October. SBI General grew 31.98% to ₹1,550 crore, while Bajaj General Insurance reported a 12.14% increase to ₹2,142 crore. ICICI Lombard's premium income rose 9.69% to ₹2,826 crore.
Tata AIG reported a 15% increase in premium income to ₹2,265 crore, while IFFCO-Tokio grew 18% to ₹974 crore. Go Digit General Insurance, however, reported a 3.23% decline in premium income to ₹967 crore.
Among public sector insurers, National Insurance recorded a 16.11% increase in premium income to ₹3,287 crore, while
New India Assurance reported a 2.94% growth to ₹3,880 crore. United India Insurance grew 11.55% to ₹1,775 crore, while Oriental Insurance reported a 2.64% decline to ₹1,479 crore. The standalone health insurance segment continued to outperform the broader industry. Care Health Insurance recorded a 34.56% increase in premium income to ₹1,129 crore, while Niva Bupa grew 20.05% to ₹826 crore. Star Health's premium income rose 17.65% to ₹1,721 crore.
For the April-October period of FY27, the general insurance industry recorded a 9.13% increase in premium income to ₹2.12 lakh crore. General insurers reported a 9.23% growth to ₹1.79 lakh crore, while standalone health insurers posted a 29.18% increase to ₹30,135 crore.