General insurers clock 10.5% premium growth in October

Mumbai: General insurance companies reported a 10.5% year-on-year increase in gross direct premium income to ₹32,761 crore in October, led by strong growth in standalone health insurers and private general insurers, according to provisional data released by the General Insurance Council.

General insurers recorded a 10.15% increase in premium income to ₹28,062 crore during the month, while standalone health insurers (SAHIs) reported a 21.29% growth to ₹4,549 crore.

Among general insurers, HDFC ERGO recorded a 34.87% increase in premium income to ₹1,662 crore in October. SBI General grew 31.98% to ₹1,550 crore, while Bajaj General Insurance reported a 12.14% increase to ₹2,142 crore. ICICI Lombard's premium income rose 9.69% to ₹2,826 crore.


Tata AIG reported a 15% increase in premium income to ₹2,265 crore, while IFFCO-Tokio grew 18% to ₹974 crore. Go Digit General Insurance, however, reported a 3.23% decline in premium income to ₹967 crore.

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Among public sector insurers, National Insurance recorded a 16.11% increase in premium income to ₹3,287 crore, while New India Assurance reported a 2.94% growth to ₹3,880 crore. United India Insurance grew 11.55% to ₹1,775 crore, while Oriental Insurance reported a 2.64% decline to ₹1,479 crore. The standalone health insurance segment continued to outperform the broader industry. Care Health Insurance recorded a 34.56% increase in premium income to ₹1,129 crore, while Niva Bupa grew 20.05% to ₹826 crore. Star Health's premium income rose 17.65% to ₹1,721 crore.

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For the April-October period of FY27, the general insurance industry recorded a 9.13% increase in premium income to ₹2.12 lakh crore. General insurers reported a 9.23% growth to ₹1.79 lakh crore, while standalone health insurers posted a 29.18% increase to ₹30,135 crore.