Indian Insurance Market in Review — FY2024-25
Data from IRDAI public disclosures — annual period ending 31 March 2025.FY2023-24 →
₹880061 cr
Total life GWP
₹267823 cr
Total general GWP
₹38435 cr
Total health GWP
3
Below solvency min
of 59 with Q4 data
Life — Top 3 by GWP
| 1 | LIC | ₹488849 cr | 55.5% |
| 2 | SBI Life Insurance | ₹84985 cr | 9.7% |
| 3 | HDFC Life Insurance | ₹71045 cr | 8.1% |
General — Top 3 by GWP
| 1 | New India Assurance | ₹41992 cr | 15.7% |
| 2 | ICICI Lombard General Insurance | ₹26833 cr | 10.0% |
| 3 | Bajaj Allianz General Insurance | ₹21417 cr | 8.0% |
Standalone Health — Top 3 by GWP
| 1 | Star Health Insurance | ₹16716 cr | 43.5% |
| 2 | Care Health Insurance | ₹8318 cr | 21.6% |
| 3 | Niva Bupa Health Insurance | ₹6762 cr | 17.6% |
Claims highlights
- Highest CSR (life): Shriram Life Insurance — 100.07% (Q4 FY24-25)
- Lowest ICR (general): Agriculture Insurance Company of India — 49.86% (Q4 FY24-25)
Source: IRDAI public disclosures — annual period ending 31 March 2025.Full FY2024-25 data → ·FY2023-24 review →