In June alone, premiums jumped 5.05 per cent year-on-year to Rs 19,916.08 crore.
Among individual players, Shriram General Insurance led the general insurers with a 31.01 per cent rise in Q1 premiums to Rs 960.38 crore. (Source: pexels)
India’s non-life insurance industry reported steady growth in the first quarter of FY26, with gross direct premium underwritten across all segments—general, standalone health, and specialised insurers—rising 8.85 per cent year-on-year to Rs 79,306.71 crore during the April–June period, according to provisional data released by the General Insurance Council.
General insurers, who make up the bulk of the segment, contributed Rs 69,765.80 crore to the total, growing 8.93 per cent from a year earlier. In June alone, premiums from general insurers rose 5.05 per cent year-on-year to Rs 19,916.08 crore.
The reported growth comes amid a regulatory change. Starting October 1, 2024, IRDAI directed non-life insurers to recognise premiums from long-term policies on an annualised basis, instead of booking the full premium upfront. This adjustment, aimed at aligning revenue with the policy term, has affected year-on-year comparability—especially for insurers with a higher share of long-term products such as multi-year motor insurance.
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Despite this accounting adjustment, underlying momentum in the sector remains strong, led by robust performances from several private and public sector insurers.
Among individual players, Shriram General Insurance led the general insurers with a 31.01 per cent rise in Q1 premiums to Rs 960.38 crore. SBI General Insurance followed with a 21.53 per cent increase to Rs 3,163.07 crore. Oriental Insurance posted 21.40 per cent growth, while The New India Assurance, the largest player by market share, recorded a strong 15.27 per cent rise to Rs 12,299.49 crore.
Other notable performers included National Insurance (15.08 per cent), Royal Sundaram (15.51 per cent), Tata AIG (12.60 per cent) and Universal Sompo (16.70 per cent).
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On the flip side, Future Generali saw the sharpest decline among general insurers, with a 15.63 per cent drop in Q1 premiums. HDFC Ergo and Cholamandalam MS declined 8.82 per cent and 5.64 per cent, respectively, while ICICI Lombard reported flat growth at 0.61 per cent.
Among emerging players, Navi General Insurance stood out with a 170.49 per cent jump, albeit from a low base. Kshema General Insurance declined 5.11 per cent.
General insurers accounted for 87.97 per cent of total non-life premiums, followed by standalone health insurers at 11.54 per cent, and specialised insurers making up the remaining 0.49 per cent.
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