Data Alert
Non-life insurers gross premium rises 8.8% in Mar, 9.3% in FY26
This story was originally published at 12:53 IST on 9 April 2026
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--Non-life insurers premium INR 289.22 bln in Mar, up 8.8% YoY
--CONTEXT: General Insurance Council releases March premium income data
--New India Assurance's premium INR 32.76 bln in Mar, up 13.3% YoY
--Bajaj General's premium INR 13.84 bln in Mar, down 1.9% YoY
--ICICI Lombard General's premium INR 21.85 bln in Mar, up 20.9% YoY
--Go Digit General's premium INR 7.56 bln in Mar, up 9.9% YoY
--Star Health's premium INR 25.67 bln in Mar, up 15.7% YoY
--Niva Bupa Health's premium INR 11.09 bln in Mar, up 37.0% YoY
--Non-life insurers premium INR 3.36 tln in FY26, up 9.3% YoY
MUMBAI – The gross direct premium underwritten by non-life insurance companies in March rose 8.8% on year to INR 289.22 billion, according to data released by the General Insurance Council Thursday. Growth in premium income was led by standalone health insurers in March, the data showed.
In February, non-life insurers' premium income was INR 238.54 billion, up 9.7% on year. For the 2025-26 (Apr-Mar), the gross direct premium underwritten by non-life insurance companies was INR 3.36 trillion, up 9.3% on year.
The gross direct premium of standalone health insurance companies was INR 58.52 billion in March, up 21.9% on year. General insurance companies saw a rise of 8.1% on year in gross premiums in March to INR 229.14 billion.
The New India Assurance Co. Ltd., the largest non-life insurer by market share, reported a 13.3% on-year rise in gross direct premium income in March at INR 32.76 billion. The market share of the public sector insurer was 12.74% in FY26, up from 12.56% in FY25.
Bajaj General Insurance Ltd.'s gross direct premium income for the month was INR 13.84 billion, down 1.9% on year. ICICI Lombard General Insurance Co. Ltd. reported a premium income of INR 21.85 billion, up 20.9% on year. ICICI Lombard's market share in FY26 declined to 8.54% from 8.72% a year ago.
The gross direct premium underwritten by HDFC Ergo General Insurance Co. Ltd. was INR 15.66 billion, up 3.9% on year. HDFC Ergo's market share fell to 4.47% in FY26 from 5.14% a year ago. Go Digit General Insurance Ltd. reported a premium income of INR 7.56 billion in March, up 9.9% on year.
Among standalone health insurers, Niva Bupa Health Insurance Co. Ltd.'s gross direct premium income in March rose 37% on year to INR 11.09 billion. Star Health and Allied Insurance Co. Ltd.'s gross direct premium underwritten in March was INR 25.67 billion, up 15.7% on year. Among the non-life insurance companies, health insurers had a 13.64% market share in FY26, higher than 12.49% a year ago.
Following is a detailed table on the gross direct premium underwritten by leading general insurance companies in March, in INR million, compared with the year-ago period, and their market share for FY26:
| Insurers | Gross direct premium underwritten | Market Share | |||
| March 2026 |
March 2025 |
Y-o-Y change | FY26 | FY25 | |
| General Insurers | |||||
| Acko General Insurance Ltd. | 2,340.20 | 1,821.50 | 28.48% | 0.77% | 0.67% |
| Bajaj General Insurance Ltd. | 13,843.0 | 14,106.80 | (-)1.87% | 6.90% | 6.96% |
| Cholamandalam MS General Insurance Co. Ltd. | 6,607.50 | 6,789.60 | (-)2.68% | 2.31% | 2.64% |
| Generali Central Insurance Co. Ltd. | 3,268.90 | 5,278.50 | (-)38.07% | 1.56% | 1.76% |
| Go Digit General Insurance Ltd. | 7,557.70 | 6,874.50 | 9.94% | 2.93% | 2.75% |
| HDFC Ergo General Insurance Co. Ltd. | 15,661.40 | 15,071.90 | 3.91% | 4.47% | 5.14% |
| ICICI Lombard General Insurance Co. Ltd. | 21,851.80 | 18,079.10 | 20.87% | 8.54% | 8.72% |
| IFFCO-Tokio General Insurance Co. Ltd. | 7,674.90 | 6,272.10 | 22.37% | 2.66% | 2.70% |
| IndusInd General Insurance Co. Ltd. | 8,977.80 | 6,602.70 | 35.97% | 3.64% | 4.08% |
| Kshema General Insurance | 2,020.40 | 126.40 | 1,498.42% | 0.30% | 0.25% |
| Liberty General Insurance Co. Ltd. | 2,266.20 | 1,584.40 | 43.03% | 0.84% | 0.73% |
| Magma General Insurance Ltd. | 3,072.80 | 3,390.40 | (-)9.37% | 1.08% | 1.08% |
| National Insurance Co. Ltd. | 14,733.10 | 15,120.50 | (-)2.56% | 5.28% | 5.42% |
| Navi General Insurance Co. Ltd. | 153.70 | 420.20 | (-)63.42% | 0.04% | 0.03% |
| Raheja QBE General Insurance Co. Ltd. | 360.20 | 132.40 | 172.05% | 0.11% | 0.11% |
| Royal Sundaram General Insurance Co. Ltd. | 3,985.0 | 3,083.70 | 29.23% | 1.31% | 1.22% |
| SBI General Insurance Co. Ltd. | 16,887.20 | 15,451.50 | 9.29% | 4.73% | 4.52% |
| Shriram General Insurance Co. Ltd. | 4,856.0 | 3,952.80 | 22.85% | 1.38% | 1.22% |
| Tata AIG General Insurance Co. Ltd. | 17,797.30 | 15925.10 | 11.76% | 5.96% | 5.76% |
| The New India Assurance Co. Ltd. | 32,762.0 | 28,906.60 | 13.34% | 12.74% | 12.56% |
| The Oriental Insurance Co. Ltd. | 15,343.50 | 17,708.60 | (-)13.36% | 6.16% | 6.43% |
| United India Insurance Co. Ltd. | 20,211.80 | 19,524.70 | 3.52% | 6.37% | 6.53% |
| Universal Sompo General Insurance Co. Ltd. | 3,819.40 | 3,087.40 | 23.71% | 1.79% | 1.65% |
| Zuno General Insurance Co. Ltd. | 1,150.60 | 841.60 | 36.72% | 0.36% | 0.32% |
| Zurich Kotak Mahindra General Insurance Co. Ltd. | 1,937.10 | 1,916.30 | 1.09% | 0.67% | 0.62% |
| General Insurers Sub Total | 229,139.50 | 212,069.30 | 8.05% | 82.88% | 83.90% |
| Stand Alone Health Insurers | |||||
| Niva Bupa Health Insurance Co. Ltd. | 11,093.20 | 8,094.80 | 37.04% | 2.55% | 2.20% |
| Aditya Birla Health Insurance Co. Ltd. | 7,142.40 | 6,617.20 | 7.94% | 1.86% | 1.57% |
| Care Health Insurance Ltd. | 11,602.20 | 8,724.70 | 32.98% | 2.98% | 2.70% |
| Galaxy Health Insurance Co. Ltd. | 329.10 | 71.80 | 358.36% | 0.04% | 0.01% |
| ManipalCigna Health Insurance Co. Ltd. | 2,515.60 | 2,303.10 | 9.23% | 0.66% | 0.58% |
| Narayana Health Insurance Ltd. | 167.90 | 6.20 | 2,608.06% | 0.01% | 0.00% |
| Star Health & Allied Insurance Co. Ltd. | 25,673.70 | 22,181.90 | 15.74% | 5.53% | 5.43% |
| Stand Alone Health Insurers sub Total | 58,524.10 | 47,999.70 | 21.93% | 13.64% | 12.49% |
| Specialised Insurers | |||||
| Agriculture Insurance Co. Of India Ltd. | (-)305.40 | 4,070 | (-)107.50% | 3.04% | 3.17% |
| ECGC Ltd. | 1,860.90 | 1,725.40 | 7.85% | 0.43% | 0.44% |
| Specialised Insurers Sub Total | 1,555.50 | 5,795.40 | (-)73.16% | 3.47% | 3.61% |
| Grand Total | 289,219.10 | 265,864.40 | 8.78 | 100.00% | 100.00% |
| Grand Total excluding specialised cos | 287,663.60 | 260,069.00 | 10.61% | 96.53% | 96.39% |
Source: General Insurance Council
End
Reported by Nandini Sinha
Edited by Vandana Hingorani
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