Life insurers post 6 pc growth in new business premiums in August
Individual single premiums grew 9.71 per cent, while individual non-single premiums rose 4.51 per cent during the period. Combined individual premium collections posted a 6.20-per cent growth on a YTD basis, it showed.;
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NEW DELHI: Indian life insurers registered a 6.01 per cent growth in new business premiums (NBPs) in August 2025, driven by higher sales of both single and non-single premium policies, a release said on Tuesday.
NBPs increased to Rs 1,63,461.52 crore in August this year, compared to Rs 1,54,193.76 crore in the corresponding period last year, according to data released by the Life Insurance Council.
Individual single premiums grew 9.71 per cent, while individual non-single premiums rose 4.51 per cent during the period. Combined individual premium collections posted a 6.20-per cent growth on a YTD basis, it showed.
The council said the growth was supported by insurers’ focus on expanding coverage among first-time buyers and strengthening distribution.
Life insurers added more than 4.37 lakh individual agents, though cumulative agent count registered a modest 2.75 per cent growth, due to attrition, the release said.
“Agent addition along with the rapid pace of digitisation is expected to further boost insurance penetration, providing sustained momentum to new business premiums in FY25 and beyond,” the council noted.
According to officials, the insurance sector is set to witness sharper growth following the GST Council’s decision to waive tax on premiums of individual life and health insurance policies.