A view of the Life Insurance Corporation of India (LIC) head office, Yogakshema Building, at Nariman Point, in Mumbai
| Photo Credit: ANI
Life insurers in India reported a 33% year-on-year (YoY) increase in new business premium (NBP) in August to ₹41,197.78 crore, even as the number of policies and schemes sold fell 3.2% YoY to 20.76 lakh, according to the latest data released by the Life Insurance Council.State-owned Life Insurance Corporation of India (LIC), the market leader, led the growth, with its new business premium rising more than 45% YoY to ₹23,275.43 crore. However, the number of policies and schemes sold by LIC declined to 12.70 lakh from 14.03 lakh.Private life insurers recorded a 20% YoY jump in new business premium to ₹17,922.35 crore on the back of higher volumes, with the number of policies and schemes sold rising to 80.5 lakh from 74.27 lakh.For the five months ended August, life insurers reported a 20.41% YoY expansion in first-year premium to ₹1,96,823.18 crore. The number of policies and schemes sold during the period increased 2.57% to 94.88 lakh.Outlook remains positiveLife insurance stocks have underperformed in recent months amid expectations of changes to commission regulations. However, Emkay Research said current valuations do not adequately reflect the franchise strengths of life insurers, including their brands, distribution networks and scale.“We expect the industry to report 11-12% growth in retail annualised premium equivalent (APE) in FY27, supported by 13-14% growth in private sector, while expect LIC to deliver 7-8% retail APE growth,” it said.APE is defined by life insurers as the sum of annualized first-year premiums from regular-premium policies and 10% of single premiums written during the fiscal year across both retail and group segments. Published - September 08, 2026 08:53 pm IST
