The Insurance Regulatory and Development Authority of India (“IRDAI”) has uploaded the Industry Statistics on the First Year Premium of Life Insurers for the period ended January 31, 2026.
The summary of the statistics is as follows:
New Business Statement of Life Insurers for the Period Ended January 31, 2026
(Premium & Sum Assured in ₹ Crore)
| Category | First Year Premium | No. of Policies / Schemes | Lives Covered under Group Schemes | Sum Assured |
|---|---|---|---|---|
| Public Sector Total (LIC) | ₹197,886.81 Crore | 13,574,143 | 47,050,984 | ₹1,777,797.46 Crore |
| Private Sector Total | ₹150,537.07 Crore | 7,697,376 | 165,194,050 | ₹8,472,563.00 Crore |
| Grand Total | ₹348,423.89 Crore | 21,271,519 | 212,245,034 | ₹10,250,361.00 Crore |
Key Highlights
- The overall First Year Premium of the life insurance industry grew by 21.58% as on January 31, 2026.
- Life Insurance Corporation of India (LIC) continued to dominate the market with:
- 56.79% market share in First Year Premium.
- 63.81% market share in number of policies.
- 22.17% market share in lives covered under group schemes.
- 17.34% market share in sum assured.
- The Private Life Insurance Sector accounted for:
- 43.21% market share in First Year Premium.
- 36.19% market share in number of policies.
- 77.83% market share in lives covered under group schemes.
- 82.66% market share in sum assured.
- The industry recorded:
- 21,271,519 policies/schemes issued.
- 212,245,034 lives covered under group schemes.
- ₹10,250,361 Crore as the total sum assured.
- Among private life insurers, notable growth in First Year Premium was reported by:
- Generali Central Life Insurance Company Limited (189.00%).
- PNB MetLife India Insurance Company Limited (134.08%).
- Bandhan Life Insurance Limited (70.29%).
- Aditya Birla Sun Life Insurance Company Limited (62.85%).
- Bharti AXA Life Insurance Company Limited (51.52%).
A copy of the statistics is attached herewith for your ready reference.
Source Category: IRDAI
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