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India’s life insurance sector kicked off the financial year 2025-26 on a strong note, with a 10.8% jump in new business premium collections during the April-May period, according to data released by the Life Insurance Council on Monday. New business premiums climbed to Rs 52,427 crore in the first two months of the fiscal, up from Rs 47,293 crore collected during the same period last year. In May alone, collections surged 12.6% year-on-year to Rs 30,463 crore, against Rs 27,034 crore recorded a year ago, over the same period. This growth can be attributed to increased efforts towards encouraging first-time policy buyers to secure essential life cover solutions. This push led to a 3.35% rise in combined individual premium collections for May, and a 2.46% increase for the year-to-date period, the data said, reported by PTI. The data also showed that individual single premiums in May rose by 5.21%, on an annual basis, reaching Rs 3,525 crore. Meanwhile, the April-May growth for this category stood at 4.89%. State-run Life Insurance Corporation of India (LIC), the largest player in the sector, recorded a 10.27% rise in new business premiums for May, collecting Rs 18,405.04 crore, up from Rs 16,690.39 crore a year earlier. The insurer also posted a 13.79% growth in group premiums during May, while group premiums for the April-May period rose 13.66%.
