Life insurers’ new business premium rose 26% to ₹42,914 cr. in October

Life insurers’ new business premium (NBP) rose 26% year-on-year (YoY) to ₹42,914.34 crore in October, even as the number of policies and schemes issued declined.State-owned Life Insurance Corporation of India (LIC), the market leader, reported a more than 31% YoY increase in NBP to ₹25,315.52 crore. While growth was across the product mix, the notable increase was in Group Single Premium at ₹19,113.40 crore (₹13,719.30 crore).Private life insurance companies, numbering 26, logged total new business premium of ₹17,598.82 crore, registering an increase of 19.45% YoY.For the seven months ended October, NBP was 21.39% higher YoY at ₹2,88,518.07 crore. LIC logged a nearly 21% increase at ₹1,69,662.16 crore and private players a little over 22% at ₹1,18,855.91 crore.The policies/schemes issued by the life insurers in October was lower at 18,82,243 (19,53,996). However, for the first seven months of the fiscal, the number was 1.15% higher at 1,35,64,263, the NBP data released by Life Insurance Council showed.According to Emkay Research, the life insurers’ retail APE growth was a muted 5% in October due to base effect. In October 25, the insurers had logged more than 19% yoy on the back of GST rate exemption-driven growth.The insurers are expected to report 11-12% retail APE growth in FY27. “Overall, with the sector clean-up (new surrender regulations and the proposed commission reforms), we see the sector positioning well for a gradual re-rating once it starts delivering growth,” it said. Published - November 12, 2026 09:07 pm IST