India’s Non-Life Insurance Sector also retained its growth in January 2025. The gross direct premium during this period increased by 6.58% on an annual basis to Rs 29,021.32 crore, compared to Rs 27,228.98 crore in the same period last year. According to the data from the General Insurance Council, the current financial year recorded a 7.69% increase in the premium of the sector by January, reaching the total figure to Rs 2,59,211.07 crore.
Strong growth of health insurance sector
The process of growth of health insurance sector is also going on. Standalone Health Insurance Premium in January was increased by 11.01% on an annual basis to Rs 3,659.54 crore. The current financial year has seen an increase of 17.76% so far, reaching the total premium to Rs 30,378.93 crore.
At the same time, the General Insurance Segment recorded a premium of Rs 24,136.68 crore in January with a gain of 5.12%. This segment remains the largest part of the insurance sector in terms of market share. The premium of this segment in the current financial year has increased by 6.66% to Rs 2,19,418.78 crore.
Performance of insurance companies
Talking about the performance of insurance companies, Aco General Insurance Limited recorded an increase of 3.51% in January, while the current financial year saw a growth of 12.87% so far.
- The premium growth of ICICI Lombard General Insurance was 7.66% and 9.07% respectively.
- Tata Aig General Insurance recorded a growth of 19.95% and 18.39% respectively.
- The monthly premium of New India Assurance rose 16.03%, but the total growth in the current financial year was 4.14%.
However, the premium of HDFC Ergo General Insurance declined by 28–27% during January.
Performance of health insurance companies
Niva Bupa Health Insurance and Aditya Birla Health Insurance performed better in the Health Insurance Segment. The premium growth of both companies was positive, which contributed to the total growth of the sector.
