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Life insurance new business premiums rise 16.6% in Q1 on private insurers' growth: Report
India's life insurance sector began FY27 with robust new business premiums, growing 16.6 percent. Private insurers significantly outpaced the market, increasing their share to nearly forty percent. This growth stemmed from steady retail product demand and a recovery in group business. Monthly premiums also saw a thirteen percent rise in June, reversing last year's contraction.
Banks and insurance are the bright spots, says Quantum AMC's Christy Mathai
Christy Mathai, Fund Manager at Quantum AMC, says most companies' input cost pressures will show up in quarter two rather than quarter one, as firms are still using cheaper stockpiled materials to protect margins. He expects a broader earnings recovery from the second half of the year, provided tensions in West Asia don't escalate further. Mathai is upbeat on private banks and life insurance, cautiously positive on select pharma names with US exposure, but is steering clear of chemical and defence stocks over stretched valuations. Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
Aviva set to become first foreign insurer to fully own India life business
UK insurer Aviva Plc is set to fully own its Indian life insurance venture. This move follows India's recent policy allowing total foreign ownership in the sector. Aviva will buy the remaining 26% stake from its partner, Dabur Invest Corp. Full ownership offers greater strategic flexibility and faster decision-making for business expansion. The transaction marks the first deal under the government's liberalized foreign ownership policy.
Private life insurers outpace LIC in new business premium growth
Life insurers saw a 16.6% rise in new business premium during the April-June quarter. Private sector firms expanded faster than LIC, driven by regular premium products. Regular premium collections grew nearly twenty percent year-on-year, while single premium business increased. SBI Life Insurance emerged as the fastest-growing player among listed companies. Private insurers continue gaining market share while LIC retains its dominant position.
Private life insurers outpace LIC in new business premium growth
Life insurers saw a 16.6% rise in new business premium during the April-June quarter. Private sector firms expanded faster than LIC, driven by regular premium products. Regular premium collections grew nearly twenty percent year-on-year, while single premium business increased. SBI Life Insurance emerged as the fastest-growing player among listed companies. Private insurers continue gaining market share while LIC retains its dominant position.
Life insurers report double-digit growth in June; SBI Life, Axis Max, ICICI Pru post strong expansion
Indian life insurance sees healthy growth in June 2026. Private insurers show double-digit expansion, LIC posts robust gains in key premium metrics.yash
ICICI Prudential board approves reclassifying Prudential as an investor
ICICI Prudential Life Insurance's board approved seeking Irdai's nod to reclassify Prudential Corp. Holdings and rename the company to ICICI Life Insurance Ltd.
Outcome of board meeting of ICICI Prudential Life Insurance Company
Held on 06 July 2026
ICICI Prudential Life Insurance Changes Name To ICICI Life Insurance
This development comes after the company had its status changed from 'Promoter' to 'Investor'.
LIC highlights stronger profitability, higher margins and digital push ahead of investor meetings
India's Life Insurance Corporation (LIC) has reported robust financial performance, with net profit soaring to $6.07 billion and margins improving significantly to 21.2%. The state-owned giant continues its market dominance, holding a 56.7% share in new business premiums. A strategic shift towards higher-margin non-participating products is driving this growth, alongside a strong focus on digital transformation and expanding its vast distribution network.
Govt to launch cooperative life insurance company, expand Bharat Taxi to 500 cities: Amit Shah
Union Minister Amit Shah announced a new cooperative life insurance company to bolster the sector's growth, marking the Ministry of Cooperation's 5th Foundation Day. He highlighted the ministry's role in revitalizing the cooperative movement. Initiatives like expanding 'Bharat Taxi' and establishing a Sahkari University were also discussed, aiming for a developed and self-reliant India by 2047.
ICICI Pru Life seeks investor status for Prudential after Bharti Life deal
UK-based Prudential Corporation Holdings is seeking regulatory approval to shift its status from promoter to investor in ICICI Prudential Life Insurance. This move is necessitated by Prudential's agreement to acquire a 75% stake in Bharti Life. Indian regulations prohibit an entity from being a promoter in two insurance ventures simultaneously. Prudential will consequently reduce its stake in ICICI Pru Life to below 10%.