New Delhi, September 21, 2026 (Yes Punjab News)
India’s non-life insurance industry recorded a 10 per cent year-on-year increase in premiums in August, taking the monthly total to Rs 27,455 crore, with health insurance emerging as the key growth driver, according to a report by CareEdge Ratings.
The report said the August numbers were also influenced by a shift in the timing of crop insurance enrolments. Growth for April-August FY27 stood at 9.6 per cent, up from 6 per cent during the same period a year earlier, as the negative impact of the fire and crop segments narrowed.
Crop insurance premiums more than tripled from July to Rs 3,274 crore after several states extended the Kharif enrolment deadline beyond July 31, shifting business into August.
“The surge in crop premium has also cut the fire and crop-drag from 11.1 pp to 4.2 pp,” CareEdge Ratings said.
Excluding fire and crop insurance, industry growth moderated to 14.3 per cent in August from nearly 17 per cent in July. The report attributed the slowdown partly to weaker motor insurance growth in line with vehicle sales.
“That moderation does not signal weakening retail demand. It reflects a slower month for vehicle registrations and the uneven booking of government health scheme premiums,” said Priyesh Ruparelia, Director, CareEdge Ratings.
Retail segments continued to support overall growth. Health insurance grew 32.5 per cent, marking the fifth consecutive month with growth above 30 per cent, while motor insurance registered its fifth straight month of double-digit growth.
Health insurance accounted for 39.5 per cent of total August premiums and 44 per cent of premiums during April-August FY27. Health premiums rose 18 per cent year-on-year to Rs 10,834 crore in August, compared with 26 per cent growth in July and 20.9 per cent growth on a year-to-date basis.
“Health remains the principal growth driver, and the quality of that growth has improved, with rising renewal rates, falling claims ratio and volumes coming from customers new to insurance,” Ruparelia said.
CareEdge expects reported retail health growth to moderate from the second half of September as the GST-related base becomes comparable.
Private insurers and standalone health insurers together accounted for 73.3 per cent of August premiums, their highest share of the year so far.
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