The life insurance industry reported a 3.1% year-on-year decline in premiums, reaching Rs 41,117 crore in June, compared to Rs 42,433 crore in the same month last year. However, it saw a moderate fiscal year-to-date growth of 4.2%.
During the same period, the number of policies and schemes dropped by nearly 7%, totaling 20.06 lakh, according to the data released by the Life Insurance Council on Thursday.
Life Insurance Corp.
LIC's total premium dropped by 3% year-on-year, reaching Rs 27,395 crore in June and 3% premium growth in April–June period. Group single premiums saw a 5.2% dropped to Rs 21,969 crore, compared to Rs 23,172 crore in the same month last year.
SBI Life Insurance
SBI Life Insurance Co. reported a total premium of Rs 2,620 crore in June, a drop of 12.3% year-on-year, compared to Rs 2,989 crore in the same month last year. Its premium in April-June grew by 3% on a year-on-year basis.
Individual non-single premiums grew by 14% at Rs 1,380 crore in June from Rs 1,207 crore in the same month last year.
HDFC Life Insurance
HDFC Life Insurance Co.'s premiums dropped to Rs 2,523 crore, a drop of 6.3% year-on-year, but a strong 14.5% premium growth in April-June period.
The insurer's individual non-single premium, which is 44% of the total premium, grew 12% year-on-year in June, reaching Rs 1,120 crore, compared to Rs 999 crore in the same month last year.
The insurer's group single premiums degrew 25% year-on-year in June, reaching Rs 980 crore, compared to Rs 1,301 crore in the same month last year.
ICICI Prudential Life Insurance
ICICI Prudential Life Insurance's premiums rose 4% year-on-year to Rs 1,572 crore and 6.5% growth in April-June period. The insurer's individual non-single premium decreased 11% year-on-year in June, reaching Rs 536 crore, compared to Rs 601 crore in the same month last year.
Axis Max Life Insurance
Axis Max Life Insurance Co.'s premiums grew to Rs 1,085 crore, a growth of 21% year-on-year and 21.7% growth in April-to-June period. It stood at Rs 893 crore in the same month last year.
The insurer's individual non-single premium, which is 60% of the total premium, grew 22% year-on-year in June, reaching Rs 657 crore, compared to Rs 538 crore in the same month last year.
June Life Insurance Data: Closer Look
In June 2025, Axis Max Life delivered a strong performance despite operating on a strong base, emerging as one of the top gainers, both YoY and in the April-June period premium growth.
HDFC Life recorded modest growth, which is commendable given its already strong base.
ICICI Prudential Life benefited from a favourable base effect, showing some improvement. But it posted relatively weak growth.
SBI Life demonstrated healthy premium expansion, notable as it came off a strong base. Meanwhile, LIC reported weak growth despite having a more modest base, indicating continued pressure on its individual premium momentum.
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