PSU Non-Life Insurers Lead Premium Mobilisation Ahead of Private Players in June Quarter

In Q1 ending June 2025, public sector general insurers outperformed private players, recording a 14.6% rise in gross premiums (₹27,787 crore), outpacing the industry's 8.84% growth. New India Assurance, Oriental, National, and United India all reported strong gains, expanding market share. In contrast, private insurers like ICICI Lombard and Reliance saw minimal growth. Industry-wide, health insurance growth slowed due to reduced government-backed scheme premiums and rising costs. The adoption of the 1/n accounting rule also impacted early premium reporting. Despite challenges, FY25 saw non-life premiums cross ₹3 lakh crore, supported by digitalisation, regulation, and government initiatives like the Bima Trinity push.