The non-life insurance industry reported gross direct premium income of ₹27,145 crore in June, up 17% from ₹23,265 crore in the same month last year. The industry comprises public and private sector general insurers, standalone health insurers, and specialised public sector insurers.
Standalone health insurers recorded the fastest growth among all segments, with gross direct premium rising 31% year-on-year to ₹4,373 crore. The segment comprises seven insurers, including Star Health, Niva Bupa and Aditya Birla Health Insurance. Last week, the Insurance Regulatory and Development Authority of India approved Prudential HCL Health Insurance, taking the number of standalone health insurers to eight.
The combined gross direct premium of the four public sector general insurers—National Insurance, United India Insurance, The New India Assurance and Oriental Insurance—rose 13% year-on-year to ₹9,261 crore in June. Oriental Insurance posted the highest growth among them, with premium increasing 31% to ₹2,278 crore, while United India Insurance reported the slowest growth at 2% to ₹1,792 crore.
Private general insurers reported a 15% year-on-year increase in gross direct premium to ₹13,511 crore. ICICI Lombard, the largest private general insurer by premium, reported a 14% rise in gross direct premium income to ₹2,259 crore. HDFC ERGO’s premium grew 34% to ₹1,162 crore, while SBI General reported gross direct premium of ₹1,152 crore, up 17% from a year earlier.
