How India's non-life premiums jumped 14.9% in January 2026

It marks the 3rd straight month of double-digit expansion.

India’s non-life insurance industry recorded a 14.9% year-on-year increase in premiums for January 2026, reaching a total collection of $3.67b (INR33,346.3 crore).

This performance marks the third consecutive month of double-digit growth and represents a faster pace of expansion compared to December 2025.

The growth was largely supported by strong demand in the health, motor, and crop insurance sectors.

CareEdge Ratings also noted a "regulatory base effect" contributed to the high percentage increase, as premium growth in January 2025 had been slowed by the implementation of the $1/n$ rule.

For the financial year-to-date (YTD FY 2026), total non-life premiums have crossed the $30.8b (INR2.80 lakh crore) mark.

CareEdge Ratings point to digital initiatives like the Bima Trinity platform and increased regulatory support as key drivers for long-term penetration.

However, the sustainability of this growth may depend on several factors, including pricing discipline amongst insurers and the stability of distributor incentives.

Potential margin pressures from lower input tax credits could force a recalibration of commissions, which might impact future distribution intensity and premium growth.

($1.00 = INR90.96)