Indian Life Insurers Set New Business Growth Record in May 2025; Premium Collection Up 10.86% YTD
New business premium rises 12.68% year-on-year in May 2025, driven by growing demand for insurance protection among individual and corporate customers.
New Delhi: The Indian life insurance industry reached a new milestone in May 2025. According to data released by the Life Insurance Council, the country’s life insurers recorded a strong year-on-year growth of 12.68% in new business premium (NBP) for May 2025. Similarly, the year-to-date (YTD) total premium collection also registered a growth of 10.86%. While this figure stood at ₹27,034.15 crore in May 2024, it rose to ₹30,463.21 crore in May 2025. The YTD collection also increased from ₹47,293.01 crore to ₹52,427.4 crore.
According to the Council’s data, individual single premium saw a year-on-year growth of 5.21% in May 2025, amounting to ₹3,525.28 crore. On a YTD basis, this segment grew by 4.89%. The individual non-single premium for May stood at ₹7,086.1 crore, reflecting a 2.45% annual growth, while YTD growth in this segment was 1.28%.
This remarkable performance is the result of life insurers’ strategic efforts to bring new customers under the umbrella of insurance protection. Consequently, individual premium collection saw a total increase of 3.35% in May 2025 and 2.46% on a YTD basis.
In the group policy segment, single premium collection recorded a growth of 13.09%, reaching ₹18,068.04 crore. This segment saw a robust 18.40% increase in total premium collection in May 2025.
The Indian life insurance industry continues to reach new heights. The sector is increasingly focused on expanding insurance access to regions and populations that have historically been underserved. In a significant move in this direction, companies have onboarded over 1,46,341 new individual insurance agents.
