India’s non-life insurers recorded double-digit premium growth in August, with standalone health insurers expanding substantially faster than the broader market. Year-on-year growth accelerated from July, while specialised insurers continued to weigh on the industry total.
Standalone health insurers recorded the strongest growth among the major industry groups. Their August premium rose 30.38% year on year to ₹4,377.1 crore, while their share of the non-life market increased to 14.45% from 12.04% a year earlier. Star Health, the largest standalone health insurer by August premium, collected ₹1,708.5 crore, up 19.9%. Niva Bupa’s premium rose 37.51% to ₹843 crore, while Care Health recorded ₹1,050 crore, an increase of 40.89%. The figures extend the faster premium growth seen in health insurance relative to the broader general insurance market during recent months.
General Insurers Record 8.7% Premium Growth
General insurers reported gross premium of ₹22,268 crore in August, up 8.7% year on year. New India Assurance recorded ₹2,339 crore, an increase of 6.48%, while Bajaj General’s premium rose 11.04% to ₹2,291 crore. ICICI Lombard was nearly unchanged at ₹2,190 crore, up 0.36%. Growth varied sharply among private insurers. HDFC ERGO’s August premium increased 58.4% to about ₹1,710 crore, while Acko General Insurance grew 42.72% to ₹284.6 crore.
Premium collections at specialised insurers declined 26.79% to about ₹810 crore. Agriculture Insurance Company’s August premium fell 32.64% to ₹680.4 crore, while ECGC recorded 34.84% growth to ₹129.5 crore. Excluding the specialised insurers, non-life industry premium growth was stronger at 11.75%, with collections of about ₹26,645 crore during the month.
The August premium expansion comes as insurers continue to face pressure on underwriting profitability. Industry data for FY26 showed underwriting losses at general insurers widening to ₹45,279 crore from ₹31,043 crore a year earlier, while most insurers reported combined ratios above 100%. Competitive pricing has also reduced premium income in some commercial lines.
Fire insurance premium fell 28.5% year on year to ₹10,062 crore during April-July FY27, from ₹14,063 crore a year earlier, amid deep discounting on large industrial risks and increased reinsurance capacity. August therefore shows a widening divergence within the non-life market: health insurers and selected private general insurers are recording strong premium growth, while specialised business and parts of the commercial insurance market remain under pressure.
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As health insurance takes a larger share of non-life premium collections and insurers continue to adjust pricing across different lines of business, policyholders may see changes in renewal premiums and available cover. MyRupia provides independent guidance for consumers reviewing health, motor and other insurance policies without selling insurance or earning insurer commissions. Talk to a MyRupia Expert
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