INSURANCE
Life insurers report marginal rise in new business premiums in March
Apr-24-2025

Life Insurance Council in its latest data (Provisional) has showed that life insurers posted 2.04% year-on-year (Y-o-Y) rise in new business premiums (NBP) in the month of March 2025 at Rs 61439.11 crore as compared to Rs 60213.62 crore in the year-ago period. Out of which, the private insurers’ premium increased by 2.59% Y-o-Y to Rs 24531.79 crore in March 2025 from Rs 23913.00 crore. On the other hand, Life Insurance Corporation of India’s (LIC) premium increased 1.67% to Rs 36907.33 crore in March 2025 from Rs 36300.62 crore in March 2024. In the period up to March 2025, premium of life insurance companies was up by 5.13% to Rs 397336.78 crore from Rs 377960.34 crore in same period previous year.

Of the total premium collected by life insurance companies in the month of March 2025, individual single premium stood at Rs 7420.35 crore as against Rs 6664.39 crore in March 2024, i.e. up by 11.34%. Individual Non-Single premium rose 1.77% to Rs 17291.22 crore in March 2025 as compared to Rs 16990.32 crore in March 2024, Group Single Premium stood at Rs 33543.21 crore in March 2025. Group Non-Single Premium stood at Rs 555.69 crore in March 2025 and Group Yearly Renewable Premium increased to Rs 2628.64 crore in March 2025. 

Among the private insurance companies, HDFC Life Insurance Company reported 5.04% Y-o-Y growth in premium to Rs 4875.53 crore in March 2025, ICICI Prudential Life Insurance posted 18.12% Y-o-Y growth to Rs 3809.72 crore in March 2025, AXIS Max Life Insurance reported 0.77% growth in premiums to Rs 2056.17 crore in March 2025, Aditya Birla Sun Life Insurance reported 8.06% growth in premiums to Rs 1524.05 crore in March 2025. However, SBI Life Insurance reported 11.42% Y-o-Y de-growth in premium to Rs 3871.34 crore in March 2025 as compared to Rs 4370.81 crore in March 2024.

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