Insurance GWP Growth in India — 5-Year Trend
Gross written premium (GWP) from FY2019-20 to FY2024-25 for insurers with data in both years. Only insurers with data in both endpoints are shown. Top 10 per sector by FY24-25 GWP.
CAGR = compound annual growth rate over 5 years.
General Insurance
| # | Insurer | FY19-20 | FY24-25 | Change | 5Y CAGR |
|---|---|---|---|---|---|
| 1 | New India Assurance | ₹29,715 cr | ₹41,992 cr | +₹12,277 cr | +7.2% |
| 2 | ICICI Lombard General Insurance | ₹13,313 cr | ₹26,833 cr | +₹13,521 cr | +15.0% |
| 3 | Bajaj Allianz General Insurance | ₹12,780 cr | ₹21,417 cr | +₹8,637 cr | +10.9% |
| 4 | Oriental Insurance Company | ₹13,996 cr | ₹20,327 cr | +₹6,331 cr | +7.7% |
| 5 | United India Insurance | ₹17,515 cr | ₹20,072 cr | +₹2,557 cr | +2.8% |
| 6 | Tata AIG General Insurance | ₹7,385 cr | ₹17,703 cr | +₹10,318 cr | +19.1% |
| 7 | National Insurance Company | ₹15,313 cr | ₹16,833 cr | +₹1,521 cr | +1.9% |
| 8 | HDFC ERGO General Insurance | ₹9,308 cr | ₹15,817 cr | +₹6,509 cr | +11.2% |
| 9 | SBI General Insurance | ₹6,797 cr | ₹13,890 cr | +₹7,093 cr | +15.4% |
| 10 | Reliance General Insurance | ₹7,465 cr | ₹12,548 cr | +₹5,083 cr | +10.9% |
Standalone Health Insurance
| # | Insurer | FY19-20 | FY24-25 | Change | 5Y CAGR |
|---|---|---|---|---|---|
| 1 | Star Health Insurance | ₹6,865 cr | ₹16,716 cr | +₹9,851 cr | +19.5% |
| 2 | Care Health Insurance | ₹2,389 cr | ₹8,318 cr | +₹5,929 cr | +28.3% |
| 3 | Niva Bupa Health Insurance | ₹1,243 cr | ₹6,762 cr | +₹5,519 cr | +40.3% |
| 4 | Aditya Birla Health Insurance | ₹872 cr | ₹4,822 cr | +₹3,950 cr | +40.8% |
| 5 | ManipalCigna Health Insurance | ₹576 cr | ₹1,798 cr | +₹1,221 cr | +25.6% |
Source: IRDAI Annual Reports. GWP in ₹ crore. Only insurers with data in both FY2019-20 and FY2024-25 are included.General market share →