India’s non-life insurance sector reported a 5.16 percent year-on-year rise in gross direct premium collections for June 2025, amounting to Rs 23,422 crore, up from Rs 22,272 crore a year earlier.

The cumulative premium for the first quarter of FY26 (April–June) reached Rs 79,306 crore, marking an 8.85 percent growth over the same period last year, according to provisional figures released by the Insurance Regulatory and Development Authority of India (IRDAI).

ICICI Lombard General Insurance saw its June premium fall by 10.36 percent year-on-year to Rs 1,987 crore. Although the company managed a slight 0.61 percent growth in premium collections over the quarter at Rs 7,734 crore, the drop in its monthly numbers suggests some recent business pressures.

HDFC Ergo General Insurance faced an even steeper monthly decline of 17.4 percent, with premiums falling to Rs 870 crore, and posted an 8.8 percent fall in the quarter.

Future Generali and Cholamandalam MS also registered negative monthly growth, with their premiums contracting by 20.1 percent and 8.1 percent respectively.

In contrast, public sector general insurers significantly outperformed their private peers.

The New India Assurance Company posted a 10.68 percent increase in premiums for June, collecting Rs 3,328 crore. Over the April–June period, it saw a 15.27 percent growth, with total premiums at Rs 12,299 crore.

Oriental Insurance and United India Insurance also reported strong monthly gains of 13.5 percent and 11.4 percent, respectively.

Some private players, however, managed to buck the overall trend.

Shriram General Insurance saw a sharp 30.6 percent rise in its June premium collections, which stood at Rs 346 crore.

Navi General Insurance, though small in absolute terms, grew its premiums by 37 percent, and Aditya Birla Health Insurance posted a 26.5 percent increase, reflecting aggressive growth in health segments.

SBI General Insurance recorded 8.27 percent growth in June and a 21.53 percent jump in quarterly collections, indicating sustained traction in both retail and group insurance offerings.

The standalone health insurance segment also witnessed steady expansion.

Star Health & Allied Insurance, the dominant player in the category, saw a 2.77 percent rise in premiums for June and a 3.5 percent increase over the quarter. Niva Bupa grew by 15.5 percent, while Aditya Birla and Care Health Insurance reported double-digit growth as well.

Overall, the standalone health insurance segment grew by 10.42 percent in June and 9.99 percent during the quarter, reaching a cumulative premium of Rs 9,151 crore.

A significant drag on overall industry performance came from specialised insurers, particularly the Agriculture Insurance Company of India.

AIC’s premiums plummeted 76.4 percent year-on-year in June to just Rs 40 crore, while its quarterly collections fell 62.6 percent. ECGC, another specialised insurer, grew modestly by 6.36 percent.

It is important to note that the IRDAI has revised premium reporting norms from October 2024. Premiums from long-term policies are now excluded from monthly and quarterly figures. While all insurers are assumed to have made this adjustment in their reporting for FY26, the new format limits the accuracy of year-on-year comparisons for growth metrics.