The expansion was primarily pushed by the state-run Life Insurance coverage Company (LIC), which posted a 9.9% enhance in NBP to ₹13,610 crore from ₹12,383 crore.
Non-public sector insurers reported progress of 6% with premiums to ₹8,355 crore, up from ₹7,875 crore. Amongst listed non-public gamers, HDFC Life led the pack with a pointy 23.37% soar in premiums. Axis Max Life adopted with 17% progress, and ICICI Prudential reported 10% rise. SBI Life posted a marginal 0.3% rise, whereas Tata AIA and Bajaj Allianz noticed positive factors of two.2% and 4.4%.
Whereas HDFC Life noticed good complete premium progress, its annualised premium equal (APE) rose 10% year-on-year, whereas retail APE grew 3%. For ICICI Prudential, APE elevated by 5%, however retail APE declined 16% regardless of total premium progress. SBI Life reported secure numbers, with APE and retail APE rising 8% and a couple of%, respectively. Axis Max Life noticed strong progress throughout segments, with APE up 23% and retail APE leaping 24% on 12 months. Trade consultants consider a softening rate of interest cycle and risky fairness markets could assist demand for conventional financial savings merchandise.
Nevertheless, within the earlier quarter, life insurers have seen progress coming from sale of unit-linked merchandise. As an illustration, throughout January-March 2025, HDFC Life’s particular person APE combine comprised 39% ULIPs, 32% non-par financial savings, 19% taking part merchandise, and 5% every from time period and annuity merchandise. Regardless of fairness market volatility, ULIP demand remained agency, and the corporate noticed sturdy traction in taking part merchandise.HDFC Life CEO Vibha Padalkar had mentioned she in her investor name lately that she expects conventional insurance coverage merchandise to realize additional momentum in FY26, supported by macroeconomic tailwinds and investor warning amid market fluctuations.