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IRDAI has uploaded the industry statistics on the First year Premium for Life Insurers for the Period ending March 31, 2025.
Summary of the details are as under:
New Business Statement of Life Insurers for the Period ended 31st March 2025
Premium & Sum Assured in Rs. Crore
| Sl No. | Insurer | Premium | No. of Policies / Schemes | No. of lives covered under Group Schemes | Sum Assured | ||||
|---|---|---|---|---|---|---|---|---|---|
| Growth in % | Market Share | Growth in % | Market Share | Growth in % | Market Share | Growth in % | Market Share | ||
| 1 | LIC of India | 1.86 | 57.05 | -12.80 | 65.83 | 11.46 | 17.94 | 13.72 | 18.29 |
| Public Sector Total | 222522.99 Crores | 17815243 Policies | 46163553 Lives | 1877808.67 Crores | |||||
| Public Sector Total Growth / Market Share | -10.99 | 1.91 | 22.63 | 4.34 | |||||
| 1 | Ageas Federal Life | 11.47 | 0.34 | 11.38 | 0.24 | 7.45 | 0.74 | 21.61 | 0.27 |
| 2 | Aviva Life | -14.00 | 0.08 | -42.16 | 0.06 | -19.36 | 0.30 | 56.68 | 1.00 |
| 3 | Bajaj Allianz Life | 6.96 | 3.09 | 4.34 | 2.88 | -21.40 | 6.40 | 14.96 | 6.32 |
| 4 | Bandhan Life* | 97.81 | 0.06 | 34.59 | 0.13 | -55.03 | 0.07 | 11.50 | 0.15 |
| 5 | Bharti Axa Life | -5.02 | 0.19 | -19.70 | 0.26 | -41.54 | 0.14 | -19.52 | 0.12 |
| 6 | Canara HSBC Life | 7.69 | 0.77 | 5.09 | 0.72 | -7.53 | 3.12 | -3.82 | 2.06 |
| 7 | Credit Access Life | 98.95 | 0.05 | 225.95 | 0.00 | 74.73 | 0.69 | 206.68 | 0.17 |
| 8 | Edelweiss Tokio Life | 4.98 | 0.15 | -14.37 | 0.18 | -75.04 | 0.02 | -19.63 | 0.08 |
| 8 | Future Generali Life | 95.69 | 0.30 | 5.47 | 0.14 | 58.99 | 0.05 | 8.42 | 0.32 |
| 10 | Go Digit Life | 150.68 | 0.27 | 1112.56 | 0.03 | 192.03 | 2.60 | 184.93 | 4.90 |
| 11 | HDFC Life | 12.58 | 8.50 | 8.68 | 4.68 | -25.36 | 18.81 | 2.68 | 13.42 |
| 12 | ICICI Prudential Life | 24.91 | 5.68 | 6.61 | 2.45 | -27.69 | 15.07 | 16.86 | 11.64 |
| 13 | India First Life | -0.20 | 0.75 | -18.49 | 0.75 | -4.51 | 5.37 | 19.00 | 3.42 |
| 14 | Kotak Mahindra Life | -5.11 | 2.07 | -10.60 | 1.15 | -26.92 | 6.56 | -11.47 | 2.74 |
| 15 | Axis Max Life** | 10.47 | 3.06 | 10.97 | 2.94 | -28.32 | 2.04 | 13.24 | 5.50 |
| 16 | PNB Met Life | 37.69 | 1.18 | 3.93 | 1.09 | -26.08 | 0.49 | -6.21 | 1.36 |
| 17 | Pramerica Life | 11.52 | 0.31 | 24.96 | 0.18 | -13.06 | 1.59 | 21.95 | 1.11 |
| 18 | Reliance Nippon Life | 1.16 | 0.31 | -11.24 | 0.59 | 41.84 | 0.16 | 8.08 | 0.28 |
| 19 | SBI Life | -6.96 | 8.95 | -2.59 | 8.14 | -34.63 | 9.06 | 18.42 | 9.49 |
| 20 | Shriram Life | 21.43 | 0.57 | 21.12 | 2.00 | -6.67 | 3.91 | 76.72 | 1.77 |
| 21 | Star Union Dai-ichi Life | 29.54 | 1.08 | -6.37 | 0.65 | 19.38 | 1.68 | -18.66 | 1.27 |
| 22 | Tata AIA Life | 16.01 | 2.60 | 25.30 | 3.58 | 18.73 | 1.03 | 15.95 | 9.92 |
| Private Total | 9.80 | 42.95 | 5.19 | 34.17 | -20.40 | 82.06 | 16.52 | 81.71 | |
| Private Total | 155437.34 Crores | 9248157.00 Policies | 211206339.00 Lives | 8386358 Crores | |||||
| Industry Total | 5.13 | 100.00 | -7.39 | 100.00 | -16.10 | 100.00 | 16.00 | 100.00 | |
| Industry Total | 377960.34 Crores | 27063400 Policies | 257369892 Lives | 10264167 Crores | |||||
*Aegon life Insurance Company limited has been changed to Bandhan Life Insurance Limited with effect from 05.04.2024
**Max Life Insurance Company Limited has been changed to Axis Max Life Insurance Limited with effect from 12.12.2024
Source category: IRDAI
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