India Life Insurance — Private Players Drive Industry Growth As LIC Continues To Decline In May: Motilal Oswal

Among listed players, Max Life maintained the top position in individual WRP growth at 25% YoY, while HDFC Life Insurance Company/SBI Life/Bajaj Allianz Life posted 15%/4%/1% YoY growth. ICICI Prudential reported a decline of 14% YoY..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.In May 2025, the individual weighted received premium growth for private players improved to ~7% YoY from 2% YoY in April 2025. The industry witnessed 3% YoY growth in WRP, owing to a ~7% YoY decline reported by LIC. Among listed players, Max Life maintained the top position in individual WRP growth at 25% YoY, while HDFC Life Insurance Company/SBI Life/Bajaj Allianz Life posted 15%/4%/1% YoY growth. ICICI Prudential reported a decline of 14% YoY. The industry’s new business premium grew 13% YoY in May’25, led by 17%/10% YoY growth for private players/LIC. In terms of new business premium, HDFC Life/ICICI Prudential/Max Life/SBI Life reported a growth of 33%/7%/26%/25%, while Bajaj Allianz Life reported a decline of 3% YoY. Life insurance industry continues to witness the impact of high base (strong ULIP momentum last year) and surrender value regulations with respect to the growth trajectory. We expect a gradual recovery toward 2HFY26, backed by strong focus on traditional products and private insurers expanding their reach through geographical penetration. HDFC Life and SBI Life are our preferred picks..Click on the attachment to read the full report:.Tata Motors Shares Gets 'Neutral' Rating From Motilal Oswal, Sees Lack Of Triggers.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

India Life Insurance — Private Players Drive Industry Growth As LIC Continues To Decline In May: Motilal Oswal

HDFC Life and SBI Life are Motilal Oswal's preferred pick in life insurance space.

NDTV Profit

NDTV Profit

Follow Us

DISCOVER US FASTER

DOWNLOAD THE APP