INSURANCE
Life insurers report 13% rise in new business premiums in May 2025
Jun-10-2025

Life Insurance Council in its latest data (Provisional) has showed that life insurers posted 12.68% year-on-year (Y-o-Y) rise in new business premiums (NBP) in the month of May 2025 at Rs 30463.21 crore as compared to Rs 27034.15 crore in the year-ago period. Out of which, the private insurers’ premium increased by 16.57% Y-o-Y to Rs 12058.16 crore in May 2025 from Rs 10343.75 crore. On the other hand, Life Insurance Corporation of India’s premium increased 10.27% to Rs 18405.05 crore in May 2025 from Rs 16690.39 crore in May 2024. 

Of the total premium collected by life insurance companies in the month of May 2025, individual single premium stood at Rs 3525.28 crore as against Rs 3350.77 crore in 2024, i.e. up by 5.21%. Individual Non-Single premium surged 2.45% to Rs 7086.10 crore in May 2025 as compared to Rs 6916.67 crore in May 2024, Group Single Premium stood at Rs 18068.04 crore in May 2025. Group Non-Single Premium stood at Rs 258.13 crore in May 2025 and Group Yearly Renewable Premium increased to Rs 1525.66 crore in May 2025. 

Among the private insurance companies, HDFC Life Insurance Company reported 33.11% Y-o-Y growth in premium to Rs 3022.71 crore in May 2025, SBI Life Insurance’s premium stood at Rs 2950.72 crore in May 2025, up by 25.33% over May 2024, ICICI Prudential Life Insurance posted 6.79% Y-o-Y growth to Rs 1407.25 crore in May 2025 and AXIS Max Life Insurance reported 25.51% growth in premiums to 845.79 crore in May 2025.

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