Life insurers posted a 20.7 per cent year-on-year increase in first-year premium to ₹47,005 crore in July 2026, compared with ₹38,958 crore in July 2025.As per the data released by the Insurance Regulatory and Development Authority of India (IRDAI), Life Insurance Corporation of India (LIC) drove the industry’s growth, with its premium rising 23.8 per cent to ₹27,993 crore from ₹22,617 crore. Private life insurers collectively reported a 16.3 per cent increase to ₹19,011 crore.The number of policies and schemes issued increased marginally by 0.9 per cent to 22.98 lakh during July. The number of lives covered under group schemes declined 6.6 per cent to 2.15 crore.During April-July 2026, the industry’s first-year premium rose 17.5 per cent to ₹1.56 lakh crore. Private insurers grew 23 per cent, outpacing LIC’s 14 per cent growth, as per the data. Published on August 13, 2026