This dataset presents the market share percentage of leading life insurance companies in India for FY 2024–25, based on IRDAI New Business Premium Report.

The market share of state-owned Life Insurance Corporation of India experienced a decline from ** percent in the financial year 2017 to over ** percent in 2024. This meant that private players gained traction and reported an increase in makret share over the years.

The India Life and Non-Life Insurance Market is Segmented by (Life Insurance, (endowment, Term-Life, Whole-Life, Unit-Linked and More), Non-Life Insurance (Motor, Health, Fire and Engineering, Marine and Cargo and More), Distribution Channel (Agency, Bancassurance, Direct and More), Customer Type (Individual and Group) and Region. The Market Forecasts are Provided in Terms of Value (USD).

In the financial year 2024, general insurers led the non-life insurance market in India with a share of approximately ** percent. Health insurers had a share of 11.43 percent based on the gross direct premium income underwritten.

The India Online Insurance Market Report is Segmented by Insurance Type (Life Insurance, Health Insurance, Property & Casualty, Specialty Lines), Customer Segment (Retail/Individual, SME/Commercial, Large Enterprise/Corporate), Device Platform (Mobile App, Desktop/Web), and Geography (India). The Market Forecasts are Provided in Terms of Value (USD).

The Indian life and non-life insurance market presents a dynamic landscape characterized by robust growth and significant potential. Driven by increasing awareness of risk management, rising disposable incomes, and government initiatives promoting financial inclusion, the sector is experiencing a compounded annual growth rate (CAGR) exceeding 7%. Life insurance, encompassing individual and group policies, is a major contributor, fueled by a growing middle class seeking long-term financial security. Within this segment, individual life insurance is expected to maintain a larger market share due to individual needs for retirement planning and wealth creation. Non-life insurance, including segments like motor, health, and fire insurance, is also experiencing substantial growth driven by increasing vehicle ownership and a greater emphasis on health insurance coverage. The distribution channels are diversifying, with a shift towards digital platforms supplementing traditional methods like brokers and bank partnerships. However, challenges remain, including low insurance penetration in rural areas, the need for greater financial literacy among consumers, and stringent regulatory environments. Competitive pressures from both domestic and international players also shape the market dynamics, particularly in the rapidly growing health insurance segment. Over the next decade, the market is projected to witness a significant expansion, driven by technological advancements, product innovation, and improving economic conditions, positioning India as a key player in the global insurance sector. The growth trajectory of the Indian life and non-life insurance market is expected to remain strong through 2033. While the exact market size for 2025 is not provided, projecting based on the given 7% CAGR and a reasonable estimated 2025 market size (assuming a starting point around 200 million USD in 2019 based on publicly available data and industry estimates), the market will likely see significant expansion across both life and non-life segments. The health insurance segment, in particular, is predicted to show strong growth due to rising healthcare costs and increasing awareness of health risks. The dominance of established players like LIC and GIC is likely to continue, yet innovative business models and the growing digital space are creating opportunities for newer entrants. Penetration in the under-insured rural populations holds significant potential for future growth. Addressing challenges such as affordability, efficient claims processes, and enhancing consumer trust will be critical for sustainable growth and ensuring the sector's continued success. Recent developments include: In 2022, LIC paid out 70.39 % of the total payouts, and private insurers covered the remaining 29.61 %. The benefits paid as a result of surrenders or withdrawals rose to 1.58 lakh crore in 2021-22, with LIC accounting for 60.09 % and private insurers for the remainder. ULIP policies made for 1.96 % of the total surrender benefits for the LIC and 78.29 % for private insurers., In 2022, In contrast to the private sector insurers, who have offices in 596 districts representing 79% of all districts in the nation, the LIC of India has offices in 688 of the 750 districts in the nation, covering 92% of all districts in the country. 92% of all districts in the nation are covered by LIC and commercial insurers together.. Notable trends are: Insurance Penetration at Global Landscape.

The Indian insurance market, valued at $1.86 billion in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 12.20% from 2025 to 2033. This surge is driven by several factors. Increasing digital literacy and smartphone penetration are facilitating wider access to online insurance platforms, leading to greater convenience and affordability. Rising health consciousness among the population, coupled with an expanding middle class possessing greater disposable income, fuels demand for health and life insurance products. Government initiatives promoting financial inclusion and insurance awareness also contribute significantly to market expansion. Furthermore, the burgeoning automotive sector drives growth in the motor insurance segment. However, challenges remain. Low insurance penetration rates in rural areas, coupled with a lack of awareness and trust in certain insurance products, represent significant restraints to broader market growth. Competition among numerous players – including both established insurers and disruptive InsurTech companies like Acko, PolicyBazaar, and others – is intense and shapes market dynamics. The market segmentation reveals diverse opportunities. Life insurance, consistently a significant segment, continues to attract considerable investment. Motor insurance witnesses substantial growth fueled by rising vehicle ownership. Health insurance is emerging as a high-growth area due to increasing healthcare costs and concerns about health risks. The "Other Insurances" category encompasses a variety of niche products with varied growth trajectories depending on evolving consumer needs and regulatory frameworks. Understanding these segment-specific dynamics is vital for players seeking to optimize their strategic positioning within the competitive Indian insurance landscape. Future growth will likely be shaped by innovative product offerings, technological advancements, and the continued focus on expanding market reach, particularly in underserved areas. Data security and transparency will also play pivotal roles in building consumer confidence and trust. Recent developments include: In August 2023, Axis Bank announced its intention to acquire the 7% stake in Max Life Insurance. Currently, Axis Bank, Axis Securities, and Axis Capital collectively hold a significant 12.02 % stake in Max Life. With the acquisition of the additional 7% stake, the total holdings of Axis Entities in Max Life will increase to slightly over 19.02%., In October 2022, Exide Life Insurance Co. merged with HDFC Life Insurance Co., wherein it concluded the merger of Exide Life, marking the completion of the first-ever merger and acquisition (M&A) transaction in the Indian life insurance sector.. Key drivers for this market are: Increase in Internet Penetration and Smartphone Usage, Rise in Convenience and Accessibility of Purchasing Insurance. Potential restraints include: Increase in Internet Penetration and Smartphone Usage, Rise in Convenience and Accessibility of Purchasing Insurance. Notable trends are: Increasing Internet Userbase in India is Driving the Market.

The general insurance company, Cholamandalam held a market share of approximately **** percent in India's non-life insurance sector. That same year, ICICI Lombard held the largest market share of close to *** percent.

Discover the booming Indian insurance market! This comprehensive analysis reveals a market size of $1.86B in 2025, growing at a CAGR of 12.20% through 2033, driven by rising incomes and digital adoption. Learn about key players, market segments (Life, Motor, Health), and future trends. Recent developments include: In August 2023, Axis Bank announced its intention to acquire the 7% stake in Max Life Insurance. Currently, Axis Bank, Axis Securities, and Axis Capital collectively hold a significant 12.02 % stake in Max Life. With the acquisition of the additional 7% stake, the total holdings of Axis Entities in Max Life will increase to slightly over 19.02%., In October 2022, Exide Life Insurance Co. merged with HDFC Life Insurance Co., wherein it concluded the merger of Exide Life, marking the completion of the first-ever merger and acquisition (M&A) transaction in the Indian life insurance sector.. Key drivers for this market are: Increase in Internet Penetration and Smartphone Usage, Rise in Convenience and Accessibility of Purchasing Insurance. Potential restraints include: Increase in Internet Penetration and Smartphone Usage, Rise in Convenience and Accessibility of Purchasing Insurance. Notable trends are: Increasing Internet Userbase in India is Driving the Market.

India Insurance Market was valued at USD 250.43 billion in 2024 and is anticipated to grow USD 515.87 billion by 2029 with a CAGR of 12.8% through 2030.

The market share of Life Insurance Corporation (LIC) by total premium was ***** percent in the financial year 2023. During the presented period, the market share of LIC decreased. LIC is a state-owned insurance group and investment company in India.

The size of the Indian Health Insurance Market market was valued at USD 0.91 Million in 2023 and is projected to reach USD 1.84 Million by 2032, with an expected CAGR of 10.60% during the forecast period. Recent developments include: August 2022 : the boards of Aditya Birla Capital Ltd and its subsidiary Aditya Birla Health Insurance Co. Ltd approved an investment of Rs 665 crores by Abu Dhabi Investment Authority in the health insurer on Friday (ADIA). The funds will be used to fuel the growth of the health insurer., July 2022 : Bajaj Allianz Life Insurance formed a strategic alliance with City Union Bank, one of India's oldest private sector banks. This collaboration will enable the private life insurer to provide a diverse range of life insurance solutions to the bank's existing and prospective customers across its 727 branches.. Notable trends are: Government Subsidized Health Insurance Schemes is Boosting the Sales of Health and Medical Insurance Policies.

The India insurance market size reached around USD 321.50 Billion in 2024. The market is projected to grow at a CAGR of 11.70% between 2025 and 2034 to reach nearly USD 972.10 Billion by 2034. The market growth can be attributed to the rising demand for cyber insurance products and increasing collaboration between private and public insurance companies. Moreover, the growth of India’s agricultural and healthcare sector is expected to increase the demand for crop and life insurance solutions, thereby driving the market growth.

The dataset contains year- and month-wise market share of each insurance company in the total number of life insurance individual or group premium policies or schemes issued, number of lives covered under group schemes, total first year premium collected and total sum assured. The same data is categorized by single, non-single, group, non-group and yearly renewable premium categories

Note: 1) The First year Premium to actual premium collected by life insurers net of only free look cancellations for the period. 2) Negative Values are as per Official Source

The Asia-Pacific Life And Annuity Insurance Market report segments the industry into Insurance Type (Annuity Insurance, Life Insurance), Distribution Channel (Direct, Banks, Agents, Online, Other Distribution Channels) and Geography (China, India, Singapore, Australia, Rest Asia-Pacific). Get five years of historical data alongside five-year market forecasts.

The India non-life insurance market size reached around USD 87.42 Billion in 2024. The market is projected to grow at a CAGR of 16.10% between 2025 and 2034 to reach nearly USD 388.99 Billion by 2034. The market growth can be attributed to the growing demand for health and motor insurance products offered by public and private companies. Moreover, the rising risk of natural disasters posed to buildings can fuel the market growth amid the increasing adoption of home insurance products.

In the financial year 2025, general insurers held a market share of nearly ** percent, Indian general and health insurance segment. General insurers include both public sector players and private sector players. Standalone health insurers had a market share of over ** percent.

Discover the booming global life and non-life insurance market! Explore its projected 4%+ CAGR, key drivers (rising middle class, technological advancements), regional breakdowns (North America, Europe, Asia-Pacific), and leading companies. Get insights into market trends and future growth potential from 2025-2033. Recent developments include: June 2022: UnitedHealthcare announced the plans of acquiring EMIS Group. The EMIS Group is a leading health technology company based in the UK. The deal is expected to be an all-cash deal of GBP 1.24 billion (USD 1.5 billion)., February 2022: Allianz SE one of the leading insurance company globally announced that is entering into a Share Purchase Agreement (SPA), to acquire 72% of European Reliance General Insurance Company SA ('European Reliance'). European Reliance is one of the leader in the Greek insurance sector with a network of 5,667 agents and 110 retail offices.. Notable trends are: Cyber Insurance is Driving the Market.

In the financial year 2022, Banca remained the most prominent distribution channel for life insurance companies, with a share of ** percent. This share has remained consistent in the past five financial years. Over time, Bancassurance has proved to be effective and profitable for insurance companies because of the reach of banks across the country. With a ** percent share, the agency was the second preferred channel.

India Online Insurance Market size was valued at USD 3.82 Billion in 2024 and is expected to reach USD 15.87 Billion by 2032, growing at a CAGR of 21.4% from 2026 to 2032.India Online Insurance Market: Definition/ OverviewOnline insurance refers to the process of buying, managing, and renewing insurance policies through digital platforms such as websites or mobile apps. It eliminates the need for face-to-face interaction with agents by offering users the convenience of comparing plans, getting quotes, and making payments entirely online. This digital approach enhances accessibility, transparency, and often leads to more competitive pricing due to reduced overhead costs. A typical application of online insurance is when an individual purchases car insurance by visiting an insurer’s website, entering vehicle and personal details, comparing different plans, and paying the premium all within minutes. Similarly, businesses can use online platforms to insure their assets, employees, or operations quickly and efficiently. Online insurance is especially useful for tech-savvy customers who prefer fast, hassle-free transactions and the ability to manage their policies anytime, anywhere.