India life premium jumps 39.1% in April 2026 as group business surges

The industry reached $3.36b in April 2026.

India's life insurance industry recorded a 39.1% year-on-year increase in new business premium (NBP) in April 2026, reaching $3.36b (INR30,550.38 crore).

The number of policies and schemes issued during the month rose 12.6% to 1.29 million from 1.15 million a year earlier, according to provisional data from the Life Insurance Council.

Growth was driven largely by group business. Group single premium business increased 44.3% year-on-year to $2.09b (INR18,962.85 crore), whilst group yearly renewable premium rose to $220.8m (INR2,007.35 crore) from $0.94m (INR8.58 crore) a year earlier.

Individual business also recorded growth. Individual non-single premium collections rose 21.1% to $697.4m (INR6,339.71 crore), whilst individual single premium business increased 15.9% to $343.1m (INR3,118.79 crore).

Private life insurers collectively reported new business premium of $1.29b (INR11,768.28 crore), up 40.9% year-on-year. Their combined policy count rose 25.9% to 529,277.

Amongst major private insurers, SBI Life Insurance Company reported new business premium of $334.5m (INR3,040.96 crore), up 79.6% from a year earlier.

HDFC Life Insurance Company posted a 30.3% increase to $278.5m (INR2,531.42 crore), whilst ICICI Prudential Life Insurance Company recorded growth of 25.6% to $142.6m (INR1,296.40 crore).

($1.00 = INR94.63)