Mumbai, 9th June 2025: The Life Insurance Council has released updated industry business numbers for May 2025, highlighting a remarkable performance by Indian life insurers. New business premiums (NBPs) underwritten by Indian life insurers achieved a robust year-on-year growth of 12.68% in May 2025, with YTD figures recording a 10.86% growth over the same period last year. New business premiums expanded from ₹27,034.15 Crs in May 2024 to ₹30,463.21 Crs in May 2025, while YTD collections increased from ₹47,293.01 Crs to ₹52,427.4 Crs this year.
According to data released by the Life Insurance Council, the life insurance industry saw individual single premiums grow by 5.21% year-on-year to close at ₹3,525.28 Crs for May 2025, with YTD growth standing at 4.89%. Individual non-single premiums came in at ₹7,086.1 Crs and grew by 2.45% in May 2025, with YTD collections 1.28% higher than the corresponding period last year.
This strong performance is attributed to life insurers’ focus on encouraging first-time buyers to secure essential life insurance solutions, contributing to a 3.35% growth in combined individual premium collections for May 2025 and 2.46% growth on a YTD basis.
In the Group policy segment, single premiums grew by 13.09%, with monthly collections reaching ₹18,068.04 Crs. The Group policy category also witnessed an impressive 18.40% growth in premiums collected in May 2025.
The life insurance industry in India has been making significant strides forward by expanding access to insurance and making an effort to reach out to areas and segments of the country’s population that were previously underserved when it comes to their insurance needs. Towards this end, life insurers added more than 1,46,341 individual life insurance agents.
Leave a Reply