India life-insurance new-business premiums rise nearly 16% to 4.59L/cr FY26
India's life insurance industry just had a strong year. New business premiums grew nearly 16%, reaching ₹4.59 lakh crore in FY26 (up from ₹3.97 lakh crore in the previous financial year (FY25)), according to industry data released by the Insurance Awareness Committee-Life (IAC-Life).
March 2026 was especially busy, with collections jumping to ₹75,872 crore.
Most of this growth came from group insurance plans, where big companies or organizations buy coverage for their members: these single premium collections rose 17.5%, and yearly renewable group premiums shot up by 39%.
Individual policies saw steady gains too.
Over 2.83 crore life-insurance policies issued
Over 2.83 crore life insurance policies were issued during FY26 (a 4.7% increase) thanks to more people opting for higher-value plans.
Kamlesh Rao, who heads the Insurance Awareness Committee-Life, noted that while awareness about financial protection is rising, there's still a big gap among young adults (18 to 35) who aren't covered enough yet.