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Clear out junk files and repair common Windows errorsFree Scan →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Private life insurers had faster reported new-business premium growth than LIC in September 2026: their combined premium rose 23.2% year over year, compared with LIC’s 19.9%. LIC nevertheless reported the larger premium amount for the month. These figures, reported by Business Standard citing Life Insurance Council data, describe market activity—not which insurer or policy is better for an individual buyer.
What the September 2026 figures show
New-business premium (NBP) is the premium an insurer receives for policies sold and issued for the first time during a reporting period. It is an aggregate measure of new business for that period, not a measure of policy quality, claim service, solvency or individual value.
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| Insurer group | September 2026 NBP | Year-over-year change |
|---|---|---|
| LIC | ₹27,528.7 crore | 19.9% |
| Private life insurers combined | ₹21,251.84 crore | 23.2% |
| Life-insurance industry | ₹48,780.55 crore | 21.32% |
The private group’s growth rate was higher, but its reported premium total was lower than LIC’s. The private figure combines insurers; it does not mean every company in the group grew at that rate. The figures are attributed to Life Insurance Council data in Business Standard’s September report; the available official IRDAI index did not provide an independently checked September 2026 monthly file.
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Private insurers did not all grow at the same pace
Examples in the report illustrate the range within the private group. They are selected examples, not a complete ranking.
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| Insurer | September NBP | Year-over-year change |
|---|---|---|
| ICICI Life Insurance | ₹2,700.8 crore | 53.3% |
| HDFC Life | ₹4,000.7 crore | 36% |
| Bajaj Life | ₹1,830.8 crore | 33.19% |
| SBI Life | ₹4,035.17 crore | 2% |
| Aditya Birla Sun Life | ₹1,464.08 crore | Nearly 3% |
All figures are September 2026 values and year-over-year growth rates as reported by Business Standard. The spread is a reminder that a group-level rate can conceal sharply different company results.
How the April–September figures compare
The six-month cumulative result also showed faster growth for private insurers, but it is a separate period from September alone.
| Insurer group | April–September FY2027 NBP | Year-over-year change |
|---|---|---|
| LIC | ₹1.44 trillion | 19.3% |
| Private life insurers combined | ₹1.01 trillion | 22.5% |
| Life-insurance industry | ₹1.97 trillion | 20.4% |
These cumulative figures are reported by Business Standard. Totals are rounded, so the reported components may not sum precisely to the industry total.
Why premium growth is not the same as policyholder growth
NBP measures premium volume, not the number of people buying cover. Premium totals can shift with business and product mix, including the balance between single-premium and recurring-premium policies. They also do not provide a like-for-like comparison of product terms.
IRDAI’s Annual Report 2024–25 offers historical context, not a breakdown of September 2026 business. In FY2024–25, single-premium products represented 38.82% of public-sector life insurers’ total premium and 20.90% of private life insurers’ total premium. The same report recorded 270.22 lakh new individual policies: 177.83 lakh issued by the public-sector insurer and 92.39 lakh by private insurers. The distinct premium shares and policy counts show why premium growth should not be read as a direct count of new individual customers.
A June 10, 2026 CareEdge Ratings report, based on Life Insurance Council and IRDAI data, described private insurers as leading in individual non-single premiums while LIC retained dominance in single-premium business. That was an analysis of May 2026 and should not be treated as the September 2026 product mix.
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What policy buyers should compare instead
Use the market figures as background, then assess the actual policy against your needs. A company’s aggregate NBP growth does not establish that its premiums are lower, its claims handling is better, or its products suit you.
- Cover and exclusions: Check the amount of cover and the events or circumstances the policy excludes.
- Duration and payment schedule: Compare how long cover lasts, how long premiums must be paid and whether payments recur or are made once.
- Benefits and riders: Review included benefits and optional additions in the policy documents, rather than assuming products from different insurers are equivalent.
- Fit for your needs: Consider the protection required and whether the payment commitment is sustainable for you.
The September aggregate does not compare policy terms, provide an individual quote or establish a claims-service ranking. For an individual decision, consult current policy documents and, where appropriate, an appropriately licensed adviser.
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