Indian Life Insurance Industry Sees 5.13% Growth in FY25 New Business Premium
| Category | Details |
|---|---|
| Industry Growth | Life insurance industry grew by 5.13% in FY25, up from 2% in FY24. |
| Total New Business Premium | FY25: ₹3,97,336 crore; FY24: ₹3,77,960 crore; Increase: ₹19,376 crore. |
| Individual New Business Premium | FY25: ₹1,66,590.81 crore; FY24: ₹1,49,851.67 crore; Growth: 11.17%. |
| LIC's Performance | Total new business premium: ₹2,26,669 crore; Individual premium: ₹62,404 crore (record high); Market share: 57.05%. |
| Key Driver | Growth attributed to focus on first-time buyers and comprehensive coverage. |
| March 2025 Highlight | Combined individual premium collection rose by 4.47% in March 2025. |