Mumbai, 14th May 2025: The Life Insurance Council has released updated industry business numbers for April 2025, marking the beginning of the new financial year. Among several key highlights, new business premiums (NBPs) underwritten by Indian life insurers achieved a robust Y-o-Y growth of 8.43% in April 2025. New business premiums expanded from ₹20,258.86 Cr in April 2024 to ₹21,965.73 Cr in April 2025.
According to data released by the Life Insurance Council, the life insurance industry saw individual single premiums grow by 4.47% Y-o-Y to ₹2,690.47 Cr for April 2025. Individual non-single premiums came in at ₹5,234.34 Cr in April 2025, at a similar level to the corresponding period last year. This performance is attributed to life insurers focusing on encouraging first-time buyers to purchase essential life insurance solutions, contributing to a 1.30% growth in combined individual premium collections for April 2025.
In the Group policy segment, single premiums grew by 12.15% with annual collections at ₹13,138.86 Cr. The Group policy category witnessed a 12.90% growth in premiums collected in April 2025.
The life insurance industry in India continues to make significant progress by expanding access to insurance and reaching previously underserved areas and segments. Life insurers added more than 57,174 individual life insurance agents, with ongoing digitisation paving the way for further gains in insurance penetration and providing a boost to new business premiums in FY26 and beyon