GST boost, strong auto sales lift non-life insurance premiums 16% in June, says CareEdge report
Non-life insurance premiums rose 15.9% year-on-year to Rs 27,196 crore in June 2026, sharply accelerating from 5.2% growth in June 2025, CareEdge said in its latest report. On a YTD basis for April-June FY27, premiums grew 10.7%, moderately higher than 8.9% in the same period of FY26.
"The performance was primarily driven by robust momentum in retail health, aided by the GST exemption on individual health insurance," CareEdge said. "While health remained the principal growth engine, supported by both retail and group business, motor insurance also maintained healthy momentum on the back of robust vehicle sales and early signs of EV-led premium growth."
However, CareEdge noted that "overall performance remained constrained by weakness in commercial lines, particularly fire insurance, and subdued crop insurance premiums."
Private insurers and SAHIs drive June growth
The industry's gross direct premium growth rose to 15.9% YoY in June 2026 from 5.3% in June 2025. "The primary drivers of the growth were private general insurers and SAHIs supported by continued momentum in the retail segments of health and motor insurance," CareEdge said.
The growth in private insurers should be viewed in the context of "the base effect from the implementation of the 1/n accounting rule," the report said. Public general insurers reported premium growth broadly in line with the corresponding period last year, although the sharp decline earlier in the quarter led to slower growth for Q1FY27.
