Life insurers June new business dips 3% to ₹41,117 cr.
For the quarter ended June, the new business premium rose 4.25% to ₹93,544.54 crore (₹89,726.70 crore). This came on a more than 10% decline in the number of policies/schemes sold during the three months at 48.25 lakh (53.68 lakh). In June, the insurers sold 20.06 lakh (21.79 lakh) policies, the updated numbers released on Thursday by Life Insurance Council showed.
The new business of State-owned Life Insurance Corporation of India (LIC) for June was 3.42% lower year on year at ₹27,395 crore (₹28,366.87 crore). For the first quarter, the market leader's premium was 3.43% higher at ₹59,410.68 crore (₹57,440.90 crore).
Private life insurance companies' new business premium for June was 2.45% lower at ₹13,722.14 crore (₹14,066.82 crore). It increased 5.72% for the first quarter to ₹34,133.86 crore (₹32,285.80 crore).
The dip in the new business of life insurers in June ended three consecutive months of growth for the insurers since March. Prior to that the new business had declined fourth months on a trot.
Analysts had expected the life insurance sector to deliver a modest performance in the first quarter. The annual premium equivalent (APE) growth for life insurers would see moderation owing to a high base effect of the first quarter of the FY-2025, the new surrender regulations impact playing till first half of current fiscal and potential slower push of high-ticket ULIP owing to geopolitical uncertainty around equity markets, Emkay Research said in a preview recently.
The Life Insurance Council said the quarter's performance underscores the robust momentum in the sector. Individual single premiums of the insurers in June rose nearly 22% at ₹4,661.52 crore in June 2025, while individual non-single premiums increased 9% to ₹9,058.63 crore.
Group single premium declined to ₹26,038.11 crore (₹28,711.03 crore). Group non-single premium dipped sharply to ₹42.63 crore (₹510.78 crore). The base was high as LIC had reported ₹508.55 crore group non-single premium a year earlier.
The Council said growth in combined individual premium collections is on account of life insurers' focused efforts on encouraging first-time buyers.
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