IRDAI has uploaded the industry statistics on the First Year Premium for Life Insurers for the period ending February 28, 2025.
Summary of the details are as under:
New Business Statement of Life Insurers for the Period ended February 28, 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 | 1.90 | 56.49 | -10.15 | 64.72 | 5.85 | 17.66 | 12.05 | 17.76 |
| Public Sector Total | 186222.37 Crores | 14672007 Policies | 87626.72 Lives | 1616267.97 Crores | |||||||
| SBI Life | -6.38 | 9.44 | -3.50 | 8.53 | -30.87 | 8.99 | 12.91 | 8.74 |
| HDFC Life | 13.97 | 8.60 | 11.38 | 4.80 | -25.86 | 18.68 | 1.71 | 13.43 |
| ICICI Prudential Life | 26.38 | 5.59 | 10.07 | 2.55 | -20.50 | 15.66 | 19.06 | 11.92 |
| Bajaj Allianz Life | 9.75 | 3.12 | 9.70 | 3.02 | -18.75 | 6.44 | 14.52 | 6.41 |
| Axis Max Life | 12.67 | 3.01 | 12.32 | 2.99 | -25.60 | 2.07 | 10.93 | 5.37 |
| Tata AIA Life | 18.88 | 2.58 | 29.45 | 3.65 | 18.88 | 1.02 | 22.75 | 10.19 |
| Aditya Birla Sun Life | 29.99 | 2.59 | 25.95 | 1.34 | -9.11 | 1.86 | 25.85 | 4.36 |
| Kotak Mahindra Life | -0.53 | 2.06 | -6.35 | 1.09 | -24.52 | 6.65 | -10.90 | 2.73 |
| Canara HSBC Life | 10.16 | 0.80 | 6.32 | 0.75 | -12.90 | 3.19 | -7.34 | 2.12 |
| PNB Met Life | 40.79 | 1.20 | 8.64 | 1.17 | -37.35 | 0.41 | -11.42 | 1.28 |
| Star Union Dai-ichi Life | 26.03 | 1.13 | -4.76 | 0.71 | 13.64 | 1.69 | -21.34 | 1.30 |
| India First Life | -5.56 | 0.78 | -23.19 | 0.78 | -6.93 | 5.57 | 15.99 | 3.60 |
| Shriram Life | 22.38 | 0.57 | 28.00 | 2.04 | -11.22 | 3.77 | 85.69 | 1.83 |
| Reliance Nippon Life | -1.01 | 0.30 | -8.95 | 0.62 | 22.85 | 0.14 | 7.89 | 0.28 |
| Bharti Axa Life | -8.24 | 0.18 | -18.19 | 0.28 | -40.49 | 0.13 | -21.58 | 0.11 |
| Ageas Federal Life | 14.95 | 0.35 | 13.21 | 0.25 | 18.77 | 0.78 | 24.71 | 0.27 |
| Future Generali Life | 108.27 | 0.28 | 4.35 | 0.13 | 19.18 | 0.04 | 55.61 | 0.43 |
| Pramerica Life | 12.45 | 0.32 | 26.62 | 0.18 | -8.60 | 1.62 | 22.63 | 1.13 |
| Bandhan Life** | 83.53 | 0.06 | 55.23 | 0.13 | -54.13 | 0.07 | 9.64 | 0.15 |
| Edelweiss Tokio Life | 5.33 | 0.14 | -16.33 | 0.17 | -71.80 | 0.03 | -22.89 | 0.07 |
| Aviva Life | -10.58 | 0.08 | -41.17 | 0.06 | -18.11 | 0.30 | 68.02 | 0.99 |
| Acko Life Insurance | 81.22 | 0.02 | 3324.49 | 0.01 | 65.22 | 0.26 | 165.83 | 0.07 |
| Credit Access Life | 118.50 | 0.05 | 259.63 | 0.00 | 94.18 | 0.62 | 258.26 | 0.16 |
| Go Digit | 183.31 | 0.29 | 948.71 | 0.02 | 222.96 | 2.36 | 196.16 | 5.30 |
| Private Sector Total | 11.11 | 43.51 | 6.99 | 35.28 | -18.45 | 82.34 | 17.17 | 82.24 |
| 131524.34 Crores | 7997176 Policies | 190953812 Lives | 7484871 Crores | ||||||||
| Industry Total | 5.71 | 100.00 | -4.77 | 100.00 | -15.00 | 100.00 | 16.22 | 100.00 |
| 335897.67 Crores | 22669183 Policies | 231917187 Lives | 9101139 Crores | ||||||||
**Aegon Life Insurance Company Limited has been changed to Bandhan Life Insurance Limited with effect from 05.04.2024.
Source category: IRDAI
Comments are closed