India’s life insurance industry reported cumulative new business premiums of ₹3,10,945 crore during the April–December 2025 period, registering a healthy year-on-year growth of 13.04%, according to a Cafemutual report. This compares with ₹2,75,087 crore collected in the corresponding period of the previous year, reflecting sustained momentum in insurance adoption amid improving consumer awareness and distribution reach.

LIC Anchors Industry Growth

The Life Insurance Corporation of India (LIC) continued to dominate the sector, generating new business premiums of ₹1,77,446 crore during the nine-month period. This marked a 12.34% increase from ₹1,57,956 crore recorded in April–December 2024. LIC accounted for 57.07% of the total industry premium, reaffirming its position as the market leader.

Strong Performance from Leading Private Insurers

Among private players, SBI Life Insurance ranked second with new business premiums of ₹31,325 crore, reflecting a robust growth of 19.31% over the previous year. HDFC Life Insurance followed with ₹24,980 crore, up 10.23% year-on-year. ICICI Prudential Life Insurance reported ₹15,090 crore, showing a marginal decline of 0.32% compared to the same period last year.

Bajaj Life Insurance posted premiums of ₹9,830 crore, registering a growth of 15.59%, while Axis Max Life Insurance reported ₹9,642 crore, up 19.20%. Tata AIA Life Insurance also delivered a steady performance, with new business premiums of ₹7,888 crore, growing 13.74% year-on-year.

Mid-Sized and Emerging Insurers Show Momentum

Aditya Birla Sun Life Insurance recorded ₹7,746 crore in new business premiums, a rise of 9.90%, while Kotak Mahindra Life Insurance grew 8.26% to ₹5,853 crore. Star Union Dai-ichi Life Insurance stood out among the top insurers, posting the highest growth rate of 30.31% with premiums of ₹3,731 crore.

Other insurers such as Canara HSBC Life and IndiaFirst Life delivered strong growth of 28.12% and 17.40%, respectively. Newer entrants also witnessed sharp expansion from a lower base, with CreditAccess Life Insurance reporting a year-on-year surge of 380.94% to ₹473 crore.

Summary:
India’s life insurance sector recorded new business premiums of ₹3.11 lakh crore during April–December 2025, growing 13% year-on-year. LIC maintained its leadership with a 57% market share, while private insurers such as SBI Life, HDFC Life, and Axis Max Life posted strong growth, reflecting broad-based expansion across the industry.

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