Life insurance premiums jump 15% in September: What's the catch
India's life insurance companies just had a strong September, with new business premiums (NBP) jumping nearly 15% to ₹40,206.67 crore compared to last year.
But here's the twist: while the money coming in grew, the actual number of policies sold dropped sharply—from 32.18 lakh to 22.06 lakh, showing people are buying fewer, but likely bigger, policies.
Both LIC, private players contribute to growth
Both LIC and private insurers powered this growth.
LIC's first-year premium rose 12.7% to ₹22,957.09 crore, and private players saw an even bigger boost—up 17.7% to ₹17,249.58 crore—thanks to higher-value policies and more group or single-premium plans.
Looking ahead, private players likely to keep leading the charge
The momentum is still going strong into the first half of FY26, with overall NBP up 7.6%.
Private insurers are outpacing LIC in growth, and the whole sector is set to benefit from digital upgrades and regulatory changes like the new GST rules.
If you're curious about how finance is evolving, this is one space to watch.