India's non-life insurance industry saw gross premiums grow 5.7 per cent year-on-year in July 2026, reaching INR31.398bn. According to data from the General Insurance Council, growth slowed sharply from 15.9 per cent in June, amid declines in fire and crop insurance that offset continued expansion in health and motor insurance. For April-July FY2027, however, non-life insurance premiums grew 9.5 per cent year-on-year, compared with 7.1 per cent during the same period a year earlier.
Health insurance remained the strongest contributor to industry growth. Premiums rose 26% year-on-year to INR15.009bn in July, with retail health increasing 31.6% and group health premiums rising 17.9%. Health insurance accounted for about 48% of total monthly non-life premiums, up from around 40% a year earlier. Standalone health insurers also recorded strong growth, with premiums increasing 28.8% to INR4.666bn.
Motor insurance continued to post double-digit growth, with premiums rising 14% year-on-year to INR9.387bn in July. Own-damage premiums increased 16.9%, while third-party premiums grew 11.9%. In contrast, fire insurance premiums declined 30.9% to INR1.952bn, reflecting pressure in commercial lines. Crop insurance was a further drag, with premiums falling 58.5% to INR1.077bn.
Private general insurers recorded 8.5% growth during the month, compared with 6.6% for public general insurers. Excluding fire and crop insurance, non-health premiums grew by around 8%, suggesting that the July slowdown was concentrated in specific segments rather than reflecting a broad-based weakening of the market. Health insurance is expected to remain an important growth driver as insurers continue to benefit from rising demand for medical and financial protection.