India's general insurance sector witnessed subdued growth in July 2025, with a marginal rise in gross direct premium underwritten. The General Insurance Council's data (excluding specialized companies like Agricultural Insurance Company of India and ECGC) indicates a 0.95% increase, with premiums rising to ₹28102.14 crore from ₹27839.00 crore in July 2024.
General insurance companies, holding a significant market share of 86.43%, experienced a de-growth of 0.32% with gross direct premium underwritten of Rs 24480.14 crore compared to Rs 24558.04 crore in the corresponding month of the previous year. In contrast, standalone health insurers, with an 11.72% market share, showed a growth of 10.39%, garnering gross direct premium underwritten of Rs 3622.00 crore in July 2025 compared to Rs 3280.96 crore in July 2024. Specialized insurers also demonstrated substantial growth, with a 49.19% increase in gross direct premium underwritten, reaching Rs 1627.65 crore in July 2025 from Rs 1090.96 crore in July 2024.
Within the general insurance sector, individual companies presented diverse performances. Some companies, such as Raheja QBE General Insurance Co, HDFC Ergo General Insurance Co, Kshema General Insurance Co, National Insurance Co, and Zurich Kotak Mahindra General Insurance Co, experienced declines in premium. Conversely, Navi General Insurance Co, Shriram General Insurance Co, Go Digit General Insurance Co, Royal Sundaram General Insurance Co, and Liberty General Insurance Co reported growth.
In the health insurance segment, Narayana Health Insurance Co, Aditya Birla Health Insurance Co, Care Health Insurance Co, and Niva Bupa Health Insurance Company all showed positive growth. New India Assurance also demonstrated strong performance with a 16% increase. Go Digit recorded impressive gains across all timeframes: MoM Growth: 19% in July, YoY Growth: 27% increase, and YTD Premiums: Up 12% YoY. Health insurer Niva Bupa reported moderate but consistent growth: MoM Growth: 7% in July, YoY Growth: 10%, and YTD Premiums: Up 11% YoY.
The overall muted growth in the general insurance sector contrasts with the robust performance of some individual companies and the health insurance segment. While the general insurance sector experienced slow growth, with premium growth at only 2.8 percent and weak motor insurance sales, health insurers performed better, growing over 10 percent. The industry's total premium was ₹29729 crore. These mixed results highlight the varying dynamics within India's insurance landscape. While some companies struggle, others thrive, and the health sector continues to expand.
Despite the challenges, the Swiss Re Institute projects India's insurance sector to grow at a rate of 11.1% and become the fastest-growing market among G20 nations over the next five years. This growth is expected to be driven by an expanding middle class, technological advancements, and supportive regulatory measures.
