India’s non-life insurance sector reported a 5.2% year-on-year rise in gross written premiums (GWP) to ₹23,422.5 crore in June 2025, as per a CareEdge Ratings report. While this growth marks a steady recovery, it lags behind the 8.4% surge recorded in June 2024.
Industry analysts attribute the moderation to two key factors. First, the shift to the regulatory “1/n rule” has slowed health insurance growth to single digits. Second, the passenger vehicle segment remains subdued. These declines were partially offset by steady renewals in commercial lines such as fire and engineering insurance. With this, Public sector general insurers’ growth for June 2025 continues to outpace their private counterparts for the last 9 months.
Despite the slower monthly uptake, non-life premiums for FY25 surpassed the ₹3 lakh crore threshold, propelled by supportive regulations, strong insurtech integration, digitalisation, and a growing middle-class base.
It is pertinent to note that the upcoming introduction of composite licences—allowing insurers to offer both life and non-life products—could significantly reshape the competitive landscape over the medium term while intensifying domestic competition and global geopolitical tensions remain ongoing risks.
While June’s 5.2% growth signals a cooling from last year’s surge, the non-life insurance sector remains on a solid trajectory.