Non-life insurance premiums rose 10.5 per cent to ₹32,760.81 crore in October, driven by strong growth in the health insurance sector. Data from the General Insurance Council showed standalone health insurers recorded a 21.3 per cent increase. Meanwhile, multi-line general insurers grew 10.15 per cent, helping the industry perform well overall.
Gross direct premiums underwritten by non-life insurers, including multi-line general insurers, standalone health insurers and specialised public sector insurers, grew 10.5 per cent year-on-year (YoY) to ₹32,760.81 crore in October, supported by continued growth in the standalone health insurance segment.
In September, the industry's premiums grew 6.12 per cent YoY.
According to data released by the General Insurance Council (GIC), premiums of multi-line general insurers grew 10.15 per cent YoY to ₹28,062.14 crore, while standalone health insurers recorded a 21.3 per cent increase to ₹4,548.55 crore. Specialised public sector insurers, however, saw their premiums decline by more than 60 per cent YoY to around ₹150 crore.
In October 2025, gross direct premiums underwritten by non-life insurers had grown marginally by 0.07 per cent to ₹29,617.6 crore. Premiums of general insurers had increased 1.72 per cent YoY to ₹25,464.1 crore, while standalone health insurers recorded growth of 38.3 per cent to ₹3,738.3 crore.
Among the leading insurers, state-owned The New India Assurance recorded 2.9 per cent YoY growth in premiums to ₹3,879.7 crore in October, while ICICI Lombard General Insurance, the largest private sector general insurer, reported a 9.7 per cent increase to ₹2,825.78 crore.
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Among public sector general insurers, National Insurance Company's premiums rose 16.11 per cent YoY to ₹3,287.11 crore, while Oriental Insurance Company's premiums declined 2.6 per cent to ₹1,479.02 crore. United India Insurance recorded 11.55 per cent growth to ₹1,774.8 crore.
Among private sector insurers, HDFC ERGO General Insurance reported 34.9 per cent YoY growth in premiums to ₹1,661.84 crore, while Bajaj General Insurance recorded a 12.14 per cent increase to ₹2,142.02 crore. Tata AIG General Insurance's premiums rose 15.2 per cent to ₹2,264.64 crore, while SBI General Insurance recorded 32 per cent growth to ₹1,550.04 crore.
Standalone health insurers continued to outperform the broader industry, with premiums growing 21.3 per cent YoY to ₹4,548.55 crore. Star Health and Allied Insurance, the country's largest standalone health insurer, recorded 17.6 per cent growth in premiums to ₹1,721.5 crore, while Niva Bupa Health Insurance posted a 20.05 per cent increase to ₹825.66 crore.
During April-October of FY27, gross direct premiums underwritten by the non-life insurance industry grew 9.13 per cent YoY to ₹2.12 trillion. Premiums of general insurers increased 9.23 per cent to ₹1.78 trillion, while standalone health insurers recorded 29.2 per cent growth to ₹30,134.86 crore.