Non-life insurance premium grows 8.92% to ₹1.80 lakh crore in H1 FY27
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The non-life insurance industry’s premium grew 8.92 per cent to ₹1,79,712 crore in H1 FY27, while agriculture insurance premium fell 57.2 per cent. Stand-alone health insurers recorded 30.69 per cent growth.
The non-life insurance industry posted an 11.7 per cent year‑on‑year increase in gross direct premiums underwritten in H1 FY27 when specialised insurers are excluded. Including those firms, total premiums climbed 8.92 per cent to ₹1,79,712 crore from ₹1,64,987 crore in H1 FY26.
Nevertheless, agriculture insurance premiums contracted, according to flash data released by the General Insurance Council on Thursday.
Non-life insurance premium rises 11.7 per cent
Provisional figures from the Insurance Regulatory and Development Authority of India (IRDAI) show that gross direct premiums of non‑life insurers—excluding specialised firms—climbed to ₹1,76,105 crore in the April‑September 2026 period, up from ₹1,57,609 crore a year earlier. The relatively modest headline growth was largely due to the sharp decline in business written by the Agriculture Insurance Company of India.
Agriculture premium plunges
The Agriculture Insurance Company’s premiums dropped 57.2% to ₹2,866 crore in H1 FY27 from ₹6,703.98 crore a year earlier. In September alone, the decline was 51%, with premiums falling to ₹1,995.43 crore from ₹4,119.16 crore.
Stand-alone health insurance drives growth
Stand‑alone health insurers continued to be the main engine of growth, with premiums climbing 30.69% to ₹25,586 crore in H1 FY27 from ₹19,578 crore. Care Health, Aditya Birla Health, Niva Bupa and ManipalCigna each posted robust year‑on‑year gains over the period.
Private general insurers show steady rise
Private general insurers saw a steadier 9% rise in cumulative premiums, reaching ₹1,50,518 crore from ₹1,38,031 crore. Within this group, the larger players posted stronger results: HDFC ERGO expanded 26%, Tata AIG 25%, IFFCO‑Tokio 19% and SBI General 21%.
September premium growth
In September, the overall industry recorded a 6.1% increase in premiums, with gross direct premiums climbing to ₹32,951 crore from ₹31,052 crore a year earlier. When specialised insurers are excluded, however, September’s premium growth was significantly stronger at 15%, lifting premiums to ₹30,820 crore from ₹26,798 crore.
Private general insurers contributed to September’s results, with a 13% premium rise, while stand‑alone health insurers expanded 27%. The steep 50% drop in specialised insurers—driven largely by the fall in agriculture insurance premiums—continued to weigh on the sector’s overall growth.
Published on October 8, 2026
