India's non life insurance sector reported a 6.2% growth in gross direct premium, with health insurance being a major contributor.
According to figures released by the Insurance Development and Regulatory Authority of India (IRDAI), the country’s non-life insurance industry reported a 6.2% y-o-y increase in gross direct premium in 2025, reaching INR3.08tr ($36bn). Non-life insurers continue to dominate with an 83.9% market share, whereas standalone health insurers registered a growth of 15.99% over the previous year.
General insurers, who wrote INR2.58tr in gross premiums for the year, showed a moderate 5.2% growth compared to FY24.
Among private players, SBI General led with a 26.19% monthly growth and a 10.64% annual increase followed by Tata AIG with 13.41% growth in March and 17.31% cumulatively, crossing INR177.03m. Future Generali and Shriram General also posted strong annual growth of 10.13% and 23.63%, respectively.
Public sector insurers, New India Assurance, Oriental, and United India grew at a modest pace, clocking between 1% to 8.4% annual growth.
Standalone health insurers collected INR384bn in FY25, up 15.99% from the previous year. The segment now accounts for over 12.5% of the total non-life insurance market.
Care Health and Aditya Birla Health reported more than over 20% annual growth. Star Health, the largest health player in the market, grew 9.58% annually.