The life insurance industry announced a robust performance for FY26, with total new business premium (NBP) registering a 15.7% year-on-year growth to ₹4,59,713 crore, compared to ₹3,97,337 crore in FY25. For March 2026, the industry reported new business premium collections of ₹75,872 crore, up from ₹61,439 crore in March 2025, highlighting sustained momentum across both individual and group segments. Growth during the year was primarily driven by the group business segment. Group Single Premium increased 17.5% to ₹2,49,766 crore, while Group Yearly Renewable Premium recorded a strong growth of 39%. Group Non-Single Premium also posted notable gains, albeit on a smaller base.
The individual segment continued to demonstrate resilience. Individual Non-Single Premium rose 10.1% to ₹1,26,900 crore, while Individual Single Premium grew 12.3% to ₹57,664 crore, indicating steady demand for long-term savings and protection products. The industry issued over 2.83 crore policies in FY26, reflecting a 4.7% increase over the previous year. The higher growth in premium relative to policy volumes suggests an increase in average ticket sizes and an improved product mix.
Commenting on the performance, Kamlesh Rao, Chairperson of the Insurance Awareness Committee (IAC-Life), said the growth reflects rising awareness, wider distribution reach, and continued innovation, while emphasizing the need to address the existing protection gap through increased awareness and early adoption.
