IRDAI has uploaded the industry statistics on the First Year Premium for Life Insurers for the period ending January 31, 2025.
Summary of the details are as under:
New Business Statement of Life Insurers for the Period ended 31st January 2025
(Premium & Sum Assured in Rs. Crore)
| Insurer | Premium Growth over Prev. Year (%) | Premium Market Share (%) | No. of Policies / Schemes Growth over Prev. Year (%) | No. of Policies / Schemes Market Share (%) | No. of Lives Covered under Group Schemes Growth over Prev. Year (%) | No. of Lives Covered under Group Schemes Market Share (%) | Sum Assured Growth over Prev. Year (%) | Sum Assured Market Share (%) |
|---|---|---|---|---|---|---|---|---|
| LIC of India | 4.76 | 56.96 | -7.82 | 64.97 | 5.59 | 17.89 | 13.39 | 18.22 |
| Public Sector Total | 174248.62 Crores | 13467619 Policies | 38302632 Lives | 1528641.25 Crores | |||||||
| SBI Life | -5.41 | 9.65 | -2.84 | 8.59 | -30.18 | 9.02 | 15.59 | 8.76 |
| HDFC Life | 12.87 | 8.39 | 14.09 | 4.76 | -26.12 | 18.46 | 1.65 | 13.21 |
| ICICI Prudential Life | 29.22 | 5.53 | 14.42 | 2.51 | -15.74 | 16.24 | 20.61 | 11.94 |
| Bajaj Allianz Life | 10.60 | 3.07 | 10.51 | 2.98 | -15.72 | 6.26 | 17.70 | 6.41 |
| Max Life | 15.26 | 2.97 | 14.80 | 2.98 | -24.96 | 2.04 | 12.24 | 5.28 |
| Tata AIA Life | 18.81 | 2.55 | 28.19 | 3.58 | 17.45 | 1.01 | 21.18 | 9.90 |
| Aditya Birla Sun Life | 32.62 | 2.51 | 27.31 | 1.33 | -4.09 | 1.84 | 40.50 | 4.34 |
| Kotak Mahindra Life | 5.91 | 2.01 | -3.18 | 1.04 | -23.22 | 6.62 | -9.35 | 2.72 |
| Canara HSBC Life | 11.61 | 0.81 | 8.48 | 0.75 | -16.43 | 3.25 | -10.78 | 2.15 |
| PNB Met Life | 45.41 | 1.20 | 9.86 | 1.16 | -33.05 | 0.42 | -2.48 | 1.31 |
| Star Union Dai-ichi Life | 41.07 | 1.14 | -1.39 | 0.71 | -26.11 | 1.11 | -40.43 | 0.96 |
| India First Life | -13.33 | 0.74 | -28.06 | 0.76 | -5.24 | 5.82 | 16.99 | 3.74 |
| Shriram Life | 23.94 | 0.57 | 35.40 | 2.06 | -14.40 | 3.65 | 91.76 | 1.88 |
| Reliance Nippon Life | -0.32 | 0.30 | -8.47 | 0.62 | 8.73 | 0.12 | 8.76 | 0.29 |
| Bharti Axa Life | -8.49 | 0.18 | -16.81 | 0.28 | -37.35 | 0.13 | -23.16 | 0.11 |
| Ageas Federal Life | 23.26 | 0.35 | 15.82 | 0.24 | 33.04 | 0.80 | 24.61 | 0.25 |
| Future Generali Life | 11.73 | 0.12 | 3.50 | 0.13 | 38.53 | 0.04 | 18.31 | 0.32 |
| Pramerica Life | 14.15 | 0.32 | 30.33 | 0.18 | -5.56 | 1.61 | 25.72 | 1.07 |
| Bandhan Life** | 67.89 | 0.05 | 42.16 | 0.12 | -53.32 | 0.07 | 9.62 | 0.15 |
| Edelweiss Tokio Life | 5.71 | 0.13 | -11.75 | 0.17 | -69.52 | 0.03 | -23.16 | 0.07 |
| Aviva Life | -9.07 | 0.08 | -42.28 | 0.06 | -19.09 | 0.30 | 73.48 | 0.99 |
| Acko Life Insurance | 123.93 | 0.02 | 7410.00 | 0.01 | 89.92 | 0.25 | 216.62 | 0.07 |
| Credit Access Life | 231.18 | 0.06 | 273.47 | 0.00 | 136.94 | 0.64 | 1116.62 | 0.47 |
| Go Digit | 213.72 | 0.29 | 811.64 | 0.02 | 259.62 | 2.37 | 192.05 | 5.40 |
| Private Sector Total | 12.05 | 43.04 | 8.40 | 35.03 | -17.47 | 82.11 | 18.76 | 81.78 |
| 131663.47 Crores | 7260292 Policies | 175846064 Lives | 6861259 Crores | ||||||||
| Industry Total | 7.78 | 100.00 | -2.72 | 100.00 | -14.11 | 100.00 | 17.74 | 100.00 |
| 305912.09 Crores | 20727911 Policies | 214148696 Lives | 8389901 Crores | ||||||||
**Aegon Life Insurance Company Limited has been changed to Bandhan Life Insurance Limited with effect from 05.04.2024.
Source category: IRDAI
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