General Insurance Market Share in India
Annual gross written premium (GWP) and market share for each general insurer — FY2019-20 through FY2024-25. PSU insurers: National Insurance, Oriental Insurance, United India, New India Assurance. Source: IRDAI Annual Reports, Statement 7.
PSU vs Private Sector — Market Share
| Segment | FY24-25 | FY23-24 | FY22-23 | FY21-22 | FY20-21 | FY19-20 |
|---|---|---|---|---|---|---|
| PSU | 37.0% | 36.9% | 37.6% | 39.4% | 41.9% | 44.7% |
| Private | 63.0% | 63.1% | 62.4% | 60.6% | 58.1% | 55.3% |
Market Share by Insurer (% of general sector GWP)
Sorted by FY24-25 GWP descending.
| Insurer | Sector | FY24-25 | FY23-24 | FY22-23 | FY21-22 | FY20-21 | FY19-20 |
|---|---|---|---|---|---|---|---|
| New India Assurance | PSU | 15.7% | 15.8% | 16.3% | 17.8% | 17.6% | 17.4% |
| ICICI Lombard General Insurance | Pvt | 10.0% | 9.7% | 9.2% | 9.0% | 7.8% | 7.8% |
| Bajaj Allianz General Insurance | Pvt | 8.0% | 8.0% | 6.7% | 6.9% | 7.0% | 7.5% |
| Oriental Insurance Company | PSU | 7.6% | 7.4% | 7.0% | 7.0% | 7.1% | 8.2% |
| United India Insurance | PSU | 7.5% | 7.8% | 7.7% | 7.9% | 9.3% | 10.2% |
| Tata AIG General Insurance | Pvt | 6.6% | 5.9% | 5.7% | 5.0% | 4.5% | 4.3% |
| National Insurance Company | PSU | 6.3% | 5.9% | 6.6% | 6.6% | 7.9% | 8.9% |
| HDFC ERGO General Insurance | Pvt | 5.9% | 7.3% | 7.2% | 6.8% | 6.9% | 5.4% |
| SBI General Insurance | Pvt | 5.2% | 4.9% | 4.7% | 4.6% | 4.6% | 4.0% |
| Reliance General Insurance | Pvt | 4.7% | 4.6% | 4.5% | 4.7% | 4.6% | 4.4% |
| Agriculture Insurance Company of India | Pvt | 3.6% | 3.9% | 6.4% | 7.0% | 6.7% | 5.5% |
| Digit General Insurance | Pvt | 3.2% | 3.1% | 2.7% | 2.3% | 1.3% | 1.0% |
| IFFCO Tokio General Insurance | Pvt | 3.1% | 3.8% | 4.3% | 4.2% | 4.7% | 4.7% |
| Chola MS General Insurance | Pvt | 3.0% | 2.9% | 2.7% | 2.4% | 2.4% | 2.6% |
| Universal Sompo General Insurance | Pvt | 1.9% | 1.8% | 1.8% | 1.7% | 1.7% | 1.7% |
| Royal Sundaram General Insurance | Pvt | 1.4% | 1.4% | 1.5% | 1.4% | 1.6% | 2.1% |
| Shriram General Insurance | Pvt | 1.4% | 1.2% | 1.0% | 0.9% | 1.2% | 1.4% |
| Magma General Insurance | Pvt | 1.2% | 1.2% | 1.1% | 0.9% | 0.7% | 0.7% |
| Liberty General Insurance | Pvt | 0.8% | 0.8% | 0.9% | 0.8% | 0.8% | 0.9% |
| Acko General Insurance | Pvt | 0.8% | 0.7% | 0.7% | 0.5% | 0.2% | 0.2% |
| Zurich Kotak General Insurance | Pvt | 0.7% | 0.6% | 0.5% | 0.4% | 0.3% | 0.3% |
| ECGC | Pvt | 0.5% | 0.5% | 0.5% | 0.6% | 0.6% | 0.6% |
| Zuno General Insurance | Pvt | 0.4% | 0.3% | 0.2% | 0.2% | 0.1% | 0.1% |
| Kshema General Insurance | Pvt | 0.3% | 0.2% | — | — | — | — |
| Raheja QBE General Insurance | Pvt | 0.1% | 0.1% | 0.2% | 0.2% | 0.2% | 0.1% |
| Navi General Insurance | Pvt | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% |
Source: IRDAI Annual Reports (Statement 7/10). PSU = government-owned insurer.Life insurance market share → ·GWP growth trends →