India life premiums rise 17.45% to $16b in July 2026

Policy and scheme volumes increased 4.34% to 7.41 million.

India’s life insurers recorded $15.6b (INR1,556.3b) in new business premiums in the period to July 2026, up 17.45% from $13.3b (INR1,325.0b) a year earlier, according to provisional data from the Life Insurance Council.

The number of policies and schemes rose 4.34% year on year to 7.41 million from 7.10 million. 

In July alone, insurers collected $4.7b (INR470.0b) in new business premiums, compared with $3.9b (INR389.6b) in July 2025.  

Private life insurers reported $6.2b (INR620.8b) in new business premiums for the period, up 23% from $5.0b (INR504.7b) a year earlier. 

Their policy and scheme count increased 10.55% to 2.87 million. 

Life Insurance Corporation of India, the state-owned insurer, recorded $9.4b (INR935.4b) in new business premiums, up 14.04% from $8.2b (INR820.3b).

LIC accounted for about 60% of total industry new business premiums during the period. Its number of policies and schemes rose 0.76% to 4.54 million. 

Amongst private insurers, SBI Life Insurance recorded $1.3b (INR128.0b) in new business premiums in the period to July, up 15.69% from a year earlier. 

HDFC Life followed with $1.2b (INR119.6b), up 13.44%, while ICICI Prudential Life recorded $0.7b (INR71.7b), an increase of 21.10%.  

($1.00 = INR95.71)