Mumbai, 9th September 2025: Life Insurance Council has released updated industry business numbers for the month of August 2025. Amongst several key highlights, new business premiums (NBPs) underwritten by Indian life insurers recorded a 6.01% growth over the same period last year on a YTD basis.
New business premiums recorded YTD growth, increasing from ₹154193.76 Crs to ₹163461.52 Crs this year.
According to data released by the Life Insurance Council, the life insurance industry saw individual single premiums growing 9.71% on a YTD basis. Individual non-single premiums also registered a 4.51% YTD growth over the corresponding period last year.
This strong performance can be ascribed to the fact that life insurers are increasingly focusing on encouraging first-time life insurance buyers to buy essential life insurance solutions, contributing to 6.20% growth on a YTD basis in combined individual premium collections.
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 437125 individual life insurance agents, even as they had to contend with an overall 2.75% growth in cumulative agent count due to attrition. Still, the sustained pace of agent addition is being complemented by the high speed of digitisation by life insurers, paving the way for additional gains in insurance penetration that should provide a significant boost to new business premiums in FY25 and beyond.