Public sector insurers report 15% premium growth to Rs 6,496 crore in August: Report

New Delhi — India’s public sector general insurers posted strong growth for the 11th consecutive month in August, recording a 15 per cent year-on-year rise in premiums to Rs 6,496 crore, according to a CareEdge Ratings report released on Thursday.

In August 2024, premiums stood at Rs 5,649.5 crore. The latest growth was largely supported by policy renewals in the fire, engineering, health, and motor third-party insurance segments, the report noted.

That said, the transition to the “1/n rule” under GST reforms has weighed on overall headline growth.

Across the non-life insurance sector, premium growth continued to slow. Total collections in August reached Rs 24,953 crore, up only 1.6 per cent year-on-year, compared with a 4.2 per cent increase in August 2024.

Private non-life insurers, including standalone health insurers (SAHI), maintained their dominance with a 70 per cent market share in both August 2024 and August 2025, rising from 68 per cent in August 2023.

On a full-year basis, private insurers accounted for 64.8 per cent of the market as of August 2025, slightly below the 66.4 per cent share a year earlier. Public sector insurers’ share, meanwhile, rose to 35.2 per cent from 33.6 per cent in August 2024.

The report also highlighted that health insurance continues to be the largest segment in non-life insurance, registering 14.3 per cent growth — from Rs 8,038 crore in August 2024 to Rs 9,183.7 crore this August.

Within this, group health insurance grew the fastest in FY26 so far, driven by policy renewals and premium hikes amid rising medical inflation. However, its growth moderated to 10 per cent, compared with 16.7 per cent in the same period last year. Retail health insurance growth also slowed, rising 8.5 per cent in FY26 to date, down from 18.3 per cent in FY25.

With inputs from IANS