Non-life Insurance Premiums Data in January 2025 Sees Growth Trajectory Continue

Mumbai: India's non-life insurance sector continued its momentum in the past month, with gross direct premiums underwritten rising by 6.58 percent year-over-year to reach Rs 29,021.32 crore in January 2025.

According to data released by the General Insurance Council, the sector has witnessed a cumulative growth of 7.69 percent up to January of the current financial year, totaling Rs 2,59,211.07 crore.

Notably, standalone health insurers have seen an 11.01 percent year-over-year increase in premiums for January, amounting to Rs 3,659.54 crore. However, on a cumulative basis, the sector's growth is stronger at 17.76 percent, with total premiums reaching Rs 30,378.93 crore.

Acko General Insurance Ltd was a notable performer, reporting a modest 3.51 percent monthly increase but a significant 12.87 percent cumulative growth. ICICI Lombard General Insurance Co Ltd also delivered strong results with 7.66 percent and 9.97 percent growth monthly and cumulative respectively.

On the other hand, Tata AIG General Insurance Co Ltd led the charge with robust monthly and cumulative growth of 19.95 percent and 18.39 percent respectively. Insurer The New India Assurance Co Ltd reported a strong 16.03 percent monthly jump but saw only a 4.81 percent cumulative rise.

Meanwhile, HDFC Ergo General Insurance Co Ltd experienced a decline in January, witnessing a 28.27 percent drop in premiums due to health risks.

On the health insurance front, leaders like Niva Bupa Health Insurance and Aditya Birla Health Insurance Co Ltd propelled their growth with monthly increases of 15.56 percent and 16.69 percent respectively, accompanied by cumulative growth exceeding 20 percent and 31 percent respectively.

In terms of market dynamics, general insurance claimed an 84.65 percent share of the total premiums in January 2025, followed by health insurers at 11.72 percent, with specialised insurers holding only a minuscule 3.63 percent of the market.

The growth trajectory of India's non-life insurance sector continues to support investor confidence, underlining the resilience and strength of this pivotal segment of the global industry.