India life insurers post 23% premium growth in November

CareEdge said growth has stabilised following regulatory-driven fluctuations last year.

India’s life insurance industry reported strong growth in November 2025, with new business premiums rising 23% year on year to $3.43b (₹31,119.6 crore), according to CareEdge Ratings.

This was the third consecutive month of double-digit growth and a clear recovery from a 5.2% decline in August 2025. The industry had also recorded a 4.5% fall in November 2024, making the rebound more notable.

Growth was supported by higher premiums across both individual and group segments. A favourable base and a smoother adjustment after the GST exemption on individual life insurance policies also helped.

On a cumulative basis, industry first-year premiums grew 9.8% year on year in YTD FY26 to $29.59b (₹2.69t).

Annual Premium Equivalent increased 16.1% year on year in November, indicating steady underlying demand after the GST exemption on individual life insurance premiums.

CareEdge said growth has stabilised following regulatory-driven fluctuations last year, with private insurers continuing to support the recovery.