India's Life Insurance Sector Surges to Double-Digit Growth in October 2025

In October 2025, India's life insurance sector achieved a robust 12.1% growth in new business premiums. Driven by strong individual non-single premium policies and aided by GST reductions, the industry rebounded significantly from a decline in August, indicating a revival in demand.

India's life insurance sector has continued its upward trajectory, achieving a double-digit growth for a second consecutive month. According to CareEdge Ratings, the sector experienced a 12.1% year-on-year increase in new business premiums, reaching Rs 34,007 crore in October 2025. This follows a strong individual segment performance, especially in non-single premium policies.

In light of a previous slump marked by a 5.2% decline in August, this resurgence is notable. Experts attribute the growth to reduced GST rates on individual life insurance products and rising demand for recurring insurance products.

State-owned LIC maintained its top position, with private insurers also showing considerable growth. The industry is set to continue this positive trend, supported by regulatory frameworks, innovative offerings, and robust distribution networks, including digital avenues.

(With inputs from agencies.)