General insurers November premium income up 24%

The general insurance industry turned in a strong performance in November, with Gross Direct Premium Income (GDPI) rising 24.1% year-on-year, powered by increase in motor sales and a pickup in retail health demand following GST exemption.

SAHIs, buoyed by the base effect of 1/n accounting and renewed buying interest in retail health, delivered a striking 35.8% YoY rise. Private multi-line insurers matched that momentum, growing GDPI by 35.5% YoY—easily outpacing public-sector peers, which saw a fractional 0.4% YoY decline. Analysts say the sharp divergence underscores the continued shift of consumer preference towards private players, particularly in motor and health, the two segments that likely drove November’s surge.

Public sector insurers and standalone health insurers gained 39bps and 70bps market share respectively, rising to 31% and 12.2% of the market, while general insurers ceded 160bps YoY to stand at 52.9%.


Among large players, Bajaj Allianz General Insurance stole the spotlight with a runaway 193.1% YoY jump in GDPI. The company’s FY26-to-date market share improved 18bps to 7.9%.