INSURANCE
Life insurers report 8% rise in new business premiums in April 2025
May-15-2025

Life Insurance Council in its latest data (Provisional) has showed that life insurers posted 8.43% year-on-year (Y-o-Y) rise in new business premiums (NBP) in the month of April 2025 at Rs 21965.73 crore as compared to Rs 20258.86 crore in the year-ago period. Out of which, the private insurers’ premium increased by 6.09% Y-o-Y to Rs 8355.10 crore in April 2025 from Rs 7875.22 crore. On the other hand, Life Insurance Corporation of India’s premium increased 9.91% to Rs 13610.63 crore in April 2025 from Rs 12383.64 crore in April 2024. 

Of the total premium collected by life insurance companies in the month of April 2025, individual single premium stood at Rs 2690.47 crore as against Rs 2575.30 crore in 2024, i.e. up by 4.47%. Individual Non-Single premium declined 0.25% to Rs 5234.34 crore in April 2025 as compared to Rs 5247.51 crore in April 2024, Group Single Premium stood at Rs 13138.86 crore in April 2025. Group Non-Single Premium stood at Rs 44.02 crore in April 2025 and Group Yearly Renewable Premium increased to Rs 858.04 crore in April 2025. 

Among the private insurance companies, HDFC Life Insurance Company reported 23.36% Y-o-Y growth in premium to Rs 1943.22 crore in April 2025, SBI Life Insurance’s premium stood at Rs 1693.66 crore in April 2025, up by 0.31% over April 2024, ICICI Prudential Life Insurance posted 9.80% Y-o-Y (Year-on-Year) growth to Rs 1032.05 crore in April 2025 and Bajaj Allianz Life Insurance reported 4.39% growth in premiums to 719.37 crore in April 2025. 

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