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India's General Insurance Industry Grows 9% to ₹3.36 Lakh Crore

India's General Insurance Industry Grows 9% to ₹3.36 Lakh Crore
India’s General Insurance Industry Records 9% Growth In FY26, Reaches ₹3.36 Lakh Crore · freepressjournal.in

Insurance companies in India help people protect their money if they get sick, have an accident, or face other problems.

Last year, these companies collected more money from customers than the year before.

The total money they collected grew by 9%.

Health insurance grew the fastest because taxes were made simpler.

Motor insurance also grew, though not as quickly.

But even though companies collected more money, they made less profit than before.

This happened because they paid out more claims and changed how they set prices.

Big private insurance companies did the best and kept more profit.

A person named Pallavi Malani, from the Boston Consulting Group, says the industry is growing up and learning to be careful with money.

That means companies want fair prices and to stay healthy instead of just collecting lots of money.

Key facts

Gross Direct Premium Income
₹3.36 lakh crore, up 9% YoY
Gross Written Premium
₹3.44 lakh crore, up 10% YoY
Industry Profit After Tax
₹10,000 crore, down 23% YoY
Combined Ratio
113%, up 2 points
Return on Equity
6%, down from 9% a year earlier
Private Insurer GDPI Growth
10%
Public Insurer GDPI Growth
8%
Health Segment Growth
17%, lifted by GST rationalization

Quotes

Pallavi Malani

Managing Director & Partner, Boston Consulting Group, India Lead – Insurance

“"The real story in FY27 is which insurers are successfully converting scale into disciplined, profitable underwriting."”
freepressjournal.in
“"The Indian general insurance industry continues to grow, and it is entering a more mature phase."”
freepressjournal.in

Sources

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