Data Alert
Life insurers' first-year premium income rises 5.2% YoY in May
This story was originally published at 13:20 IST on 9 June 2026
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--Life insurers 1st year premium INR 320.31 bln in May
--Life insurers 1st year premium INR 320.31 bln in May, up 5.15% YoY
--CONTEXT: Life Insurance Council releases new business data for May
--LIC 1st year premium INR 190.42 bln in May, up 3.46% YoY
--Pvt life insurers 1st year premium INR 129.89 bln in May, up 7.72% YoY
--SBI Life 1st year premium INR 26.68 bln in May, down 9.57% YoY
--HDFC Life 1st year premium INR 25.77 bln in May, down 14.74% YoY
--ICICI Pru Life 1st year premium INR 16.03 bln in May, up 13.88% YoY
--Life insurers 1st year premium INR 625.81 bln in Apr-May, up 19.37% YoY
NEW DELHI – The first-year premium income of life insurance companies in India rose 5.15% on year to INR 320.31 billion in May, data released by the Life Insurance Council Tuesday showed. In April, life insurance companies' first-year premium income was INR 305.50 billion, up nearly 40% on year.
Life Insurance Corp. of India's first-year premium income rose 3.5% on year in May to INR 190.42 billion. Private life insurance companies' first-year premiums rose at a quicker pace, up 7.7% on year at INR 129.89 billion.
Consequently, LIC's market share fell from the previous month. Its market share was 59.4% in May, lower than 61.5% in April. The state-owned insurance company's market share was 60.42% in May last year.
Among private insurers, SBI Life Insurance Co. Ltd.'s first-year premium income fell 9.6% on year to INR 26.68 billion in May while that of ICICI Prudential Life Insurance Co. Ltd. rose 13.9% on year to INR 16.03 billion.
HDFC Life Insurance Co. Ltd.'s premium income fell 14.7% on year in May to INR 25.77 billion. Canara HSBC Life Insurance Co. Ltd. reported a 41.9% on-year jump in premium income last month to INR 2.18 billion.
In the first two months of 2026-27 (Apr-Mar), the first-year premium income of life insurance companies in India grew 19.4% on year to INR 625.81 billion.
Following is a table of new premium income of life insurance companies in May, in INR million, compared with the year-ago period:
| Company | May 2026 | May 2025 | Y-o-Y change | Market Share May 2026 |
| Acko Life Insurance Co. Ltd. | 188.80 | 72.90 | 158.98% | 0.06% |
| Aditya Birla Sun Life Insurance Co. Ltd. | 6,005.10 | 5,743.90 | 4.55% | 1.87% |
| Ageas Federal Life Insurance Co. Ltd. | 1,102.70 | 772.80 | 42.69% | 0.34% |
| Aviva Life Insurance Co. Ltd. | 272.50 | 199.50 | 36.59% | 0.09% |
| Axis Max Life Insurance Ltd. | 9,547.10 | 8,457.90 | 12.88% | 2.98% |
| Bajaj Life Insurance Ltd. | 12,359.30 | 7,452.50 | 65.84% | 3.86% |
| Bandhan Life Insurance Ltd. (Formerly Aegon Life Insurance Co. Ltd.) | 323.20 | 228.10 | 41.69% | 0.10% |
| Bharti Axa Life Insurance Co. Ltd. | 542.70 | 518.60 | 4.65% | 0.17% |
| Canara Hsbc Life Insurance Co. Ltd. | 2,182.30 | 1,538.10 | 41.88% | 0.68% |
| Creditaccess Life Insurance Co. Ltd. | 308.70 | 209.60 | 47.28% | 0.10% |
| Edelweiss Life Insurance Co. Ltd. | 279.50 | 253.20 | 10.39% | 0.09% |
| Generali Central Life Insurance Co. Ltd. | 622.80 | 295.60 | 110.69% | 0.19% |
| Godigit Life Insurance Ltd. | 1,314.60 | 977.60 | 34.47% | 0.41% |
| HDFC Life Insurance Co. Ltd. | 25,771.00 | 30,227.10 | (-)14.74% | 8.05% |
| ICICI Prudential Life Insurance Co. Ltd. | 16,026.40 | 14,072.50 | 13.88% | 5.00% |
| Indiafirst Life Insurance Co. Ltd. | 1,502.40 | 1,470.50 | 2.17% | 0.47% |
| Indusind Nippon Life Insurance Co. Ltd. | 861.30 | 646.30 | 33.27% | 0.27% |
| Kotak Mahindra Life Insurance Co. Ltd. | 5,944.20 | 4,549.20 | 30.66% | 1.86% |
| PNB Metlife Life Insurance Co. Ltd. | 3,891.80 | 2,700.30 | 44.12% | 1.22% |
| Pramerica Life Insurance Ltd. | 1,277.80 | 1,000.50 | 27.72% | 0.40% |
| SBI Life Insurance Co. Ltd. | 26,683.80 | 29,507.20 | (-)9.57% | 8.33% |
| Shriram Life Insurance Co. Ltd. | 1,501.90 | 1,404.40 | 6.94% | 0.47% |
| Star Union Dai-Ichi Life Insurance Co. Ltd. | 2,470.50 | 1,636.90 | 50.93% | 0.77% |
| Tata Aia Life Insurance Co. Ltd. | 8,906.20 | 6,646.30 | 34.00% | 2.78% |
| Private Total | 129,886.80 | 120,581.60 | 7.72% | 40.55% |
| Life Insurance Corp. Of India | 190,421.60 | 184,050.50 | 3.46% | 59.45% |
| Grand Total | 320,308.40 | 304,632.10 | 5.15% | 100.00% |
End
Reported by Aaryan Khanna and Shweta
Edited by Akul Nishant Akhoury
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