India life insurers post 15.7% new business rise, total ₹4.6L/cr

Business Apr 22, 2026

India's life insurance scene saw a solid 15.7% jump in new business premiums this year, hitting ₹4.6 lakh crore in total industry premiums (up from close to ₹4 lakh crore last year).
More people are getting covered too, with policy sales rising nearly 5% to 2.8 crore.

LIC leads with group insurance ₹1.9L/cr

Private insurers grabbed more market share: SBI Life nudged up by 0.3%, while HDFC Life and LIC slipped a bit.
Still, LIC remains the biggest player thanks to its strong group insurance business (₹1.9 lakh crore in premiums).
SBI Life and Axis Max Life both saw strong growth in individual business, and some companies like PNB MetLife offset a decline in individual business with gains in group insurance, showing how insurers are adapting fast to keep up their momentum.