Data Alert
Non-life insurers' gross premiums rise 6.5% on year in May
This story was originally published at 07:19 IST on 10 June 2025
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MUMBAI - The gross direct premium underwritten by non-life insurance companies rose 6.5% on year to INR 222.57 billion in May, according to data from the General Insurance Council. The premium income was INR 336.49 billion in April.
The New India Assurance Co. Ltd., the largest non-life insurer by market share, reported a 22.5% on-year rise in gross direct premium at INR 29.45 billion in May. The public sector insurer's market share rose to 16.1% in May from 15.2% a year ago.
The gross direct premium underwritten by ICICI Lombard General Insurance Co. Ltd. rose 2.4% on year to INR 21.55 billion in May. ICICI Lombard's market share in May was 10.3% compared to 10.8% a year ago. Bajaj Allianz General Insurance Co. Ltd.'s gross direct premium underwritten grew 21.0% on year to INR 13.23 billion in May.
The total gross direct premium underwritten by general insurance companies was INR 192.10 billion in May, up 5.7% on year. Standalone health insurers' premium income rose 10.0% on year to INR 29.17 billion last month.
Among standalone health insurance companies, ManipalCigna Health Insurance Ltd. posted the highest growth in gross direct premium underwritten in May. The insurer's premium increased 42.8% on year to INR 1.71 billion during the month. Star Health and Allied Insurance Co. Ltd., the largest standalone health insurer by market share, saw a 3.3% rise in premium at INR 11.99 billion last month.
Following is a detailed table on the gross direct premium underwritten by leading general insurance companies in May, in INR million, compared with the year-ago period, and their market share:
| Insurers | Gross direct premium underwritten | Market share % | |||
| May 2025 | May 2024 | Y-oY % growth | May 2025 | May 2024 | |
| General insurers | |||||
| Acko General Insurance Ltd | 1,929.2 | 1,708.3 | 12.93% | 0.66% | 0.68% |
| Bajaj Allianz General Insurance Co Ltd | 13,225.0 | 10,932.0 | 20.98% | 6.67% | 6.88% |
| Cholamandalam MS General Insurance Co Ltd | 5,587.2 | 6,044.7 | (-)7.57% | 2.27% | 2.62% |
| Future Generali India Insurance Co Ltd | 3,068.7 | 4,139.4 | (-)25.87% | 1.70% | 2.18% |
| Go Digit General Insurance Ltd | 7,661.2 | 7,832.8 | (-)2.19% | 3.16% | 3.31% |
| HDFC Ergo General Insurance Co Ltd | 9,299.0 | 9,699.8 | (-)4.13% | 4.57% | 5.33% |
| ICICI Lombard General Insurance Co Ltd | 21,552.0 | 21,045.1 | 2.41% | 10.29% | 10.81% |
| IFFCO-Tokio General Insurance Co Ltd | 6,566.0 | 5,972.3 | 9.94% | 2.58% | 2.55% |
| Zurich Kotak Mahindra General Insurance Co Lt | 1,969.6 | 1,475.8 | 33.46% | 0.77% | 0.58% |
| Kshema General insurance | 391.4 | 2,812.3 | (-)86.08% | 0.62% | 0.56% |
| Liberty General Insurance Co. Ltd | 1,875.2 | 1,904.2 | (-)1.52% | 0.77% | 0.75% |
| Magma General Insurance Limited | 2,479.3 | 2,396.2 | 3.47% | 1.12% | 1.18% |
| National Insurance Co Ltd | 10,527.5 | 9,947.6 | 5.83% | 4.63% | 4.70% |
| Navi General Insurance Co. Ltd | 53.5 | 42.0 | 27.38% | 0.05% | 0.02% |
| Raheja QBE General Insurance Co Ltd | 138.1 | 412.2 | (-)66.50% | 0.05% | 0.15% |
| Reliance General Insurance Co Ltd | 8,623.6 | 8,111.5 | 6.31% | 4.19% | 4.37% |
| Royal Sundaram General Insurance Co Ltd | 3,125.8 | 2,789.0 | 12.08% | 1.49% | 1.39% |
| SBI General Insurance Co Ltd | 8,881.3 | 7,890.7 | 12.55% | 3.90% | 3.35% |
| Shriram General Insurance Co Ltd | 3,232.6 | 2,482.7 | 30.21% | 1.10% | 0.92% |
| Tata AIG General Insurance Co Ltd | 14,299.8 | 12,654.9 | 13.00% | 6.25% | 5.94% |
| The New India Assurance Co Ltd | 29,446.4 | 24,043.4 | 22.47% | 16.06% | 15.15% |
| The Oriental Insurance Co Ltd | 14,728.8 | 16,010.9 | (-)8.01% | 7.35% | 6.49% |
| United India Insurance Co Ltd | 18,272.3 | 16,960.5 | 7.73% | 7.02% | 7.35% |
| Universal Sompo General Insurance Co Ltd | 4,362.9 | 3,702.1 | 17.85% | 1.63% | 1.55% |
| Zuno General Insurance Co Ltd | 803.3 | 690.7 | 16.30% | 0.30% | 0.32% |
| General insurers sub-total | 192,099.7 | 181,701.1 | 5.72% | 89.20% | 89.13% |
| Standalone health insurers | |||||
| Niva bupa health insurance company limited | 5,545.4 | 5,055.5 | 9.69% | 1.86% | 1.88% |
| Aditya Birla Health Insurance Co Ltd | 3,462.4 | 2,544.2 | 36.09% | 1.40% | 1.21% |
| Care Health Insurance Ltd | 6,412.6 | 6,119.3 | 4.79% | 2.45% | 2.53% |
| Galaxy Health Insurance Company Ltd | 43.2 | -- | -- | 0.01% | -- |
| ManipalCigna Health Insurance Co Ltd | 1,706.2 | 1,194.9 | 42.79% | 0.63% | 0.55% |
| Narayana Health Insurance Ltd | 6.9 | -- | -- | -- | -- |
| Star Health & Allied Insurance Co Ltd | 11,990.8 | 11,606.9 | 3.31% | 4.04% | 4.30% |
| Standalone health insurers sub total | 29,167.5 | 26,520.8 | 9.98% | 10.40% | 10.47% |
| Specialised insurers | |||||
| Agriculture Insurance Co Of India Ltd | 221.0 | -193.8 | -214.04% | 0.05% | 0.02% |
| ECGC Ltd | 1,085.9 | 1,046.0 | 3.81% | 0.35% | 0.38% |
| Specialised insurers sub-total | 1,306.9 | 852.2 | 53.36% | 0.40% | 0.40% |
| Grand total | 222,574.1 | 209,074.1 | 6.46% | 100.00% | 100.00% |
End
Reported by Shubham Rana
Edited by Avishek Dutta
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