India’s non-life insurers rebound as premiums rise 13.2% in September

The recovery was supported by higher renewals in core segments such as motor.

India’s non-life insurance sector posted a rebound in September 2025, with premiums rising 13.2% year-on-year to $3.42b (₹31,117.6 crore).

This compares to a 6.5% decline in the same month last year and 1.6% growth in August 2025.

The recovery was supported by higher renewals in core segments such as motor, crop, fire, and engineering, along with increased demand for specialised and personal accident insurance.

According to Priyesh Ruparelia, director, CareEdge Ratings, the industry collected over $18.15b (₹1.65 lakh crore) in premiums during the first half of FY26, driven by regulatory support, digital adoption, and a growing middle-class customer base.

Initiatives like the Bima Trinity platform and wider use of Insurtech are also expected to sustain growth momentum.

The recent reduction in GST on individual health insurance premiums helped improve affordability and boost retail demand, said Saurabh Bhalerao, associate director, CareEdge Ratings.

Strong performance from standalone health insurers (SAHIs) and steady vehicle sales are expected to further support the sector, whilst potential revisions in third-party motor premiums could add to growth.

CareEdge cautioned, however, that lower distributor commissions, introduced to offset the loss of input tax credits, could affect distribution efficiency and weigh on future premium growth.

The overall outlook remains positive, shaped by regulatory measures, competitive dynamics, and broader economic conditions.

($1.00 = ₹87.72)