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Latest data released by the General Insurance Council (GIC) shows that the non-life insurance companies and standalone health insurers have received gross business premium of Rs. 1.18 lakh crore in FY 2025 in health insurance, a growth of 9% compared to FY 2024.
New India Assurance has received the highest gross premium of Rs. 19,200 crore in its health business, an increase of 4.77% from FY24. The company alone accounts for 16% of the total premium collection of health insurance business in India.
Star Health & Allied comes second with health insurance premium collection of Rs. 16,500 crore. It had 14% market share in the industry in FY 25.
The Oriental Insurance Company is a distant third with health insurance premium collection of Rs.8243 crore.
Not so far behind are Care Health and Bajaj Allianz with health insurance premium collection of Rs. 8,140 crore and Rs. 7,800 crore, respectively.
Other insurers in the top 10 in health insurance business are National Insurance, ICICI Lombard, United India, Niva Bupa and HDFC Ergo.
These top 10 companies account for 80% of the total health insurance business in FY 2025.
Let’s see the data for total health insurance premiums in FY2025:
|
General Insurers |
|
Growth % |
Market % |
|
The New India Assurance Co |
19194.89 |
4.77% |
16.17% |
|
Star Health & Allied |
16526.24 |
9.86% |
13.92% |
|
The Oriental Insurance |
8242.74 |
4.80% |
6.94% |
|
Care Health |
8135.35 |
22.20% |
6.85% |
|
Bajaj Allianz General |
7828.79 |
16.67% |
6.60% |
|
National Insurance |
7771.56 |
12.15% |
6.55% |
|
ICICI Lombard General |
7188.3 |
12.30% |
6.06% |
|
United India |
7036.03 |
-10.90% |
5.93% |
|
Niva Bupa |
6634.53 |
20.30% |
5.59% |
|
HDFC Ergo General |
5753.1 |
-3.71% |
4.85% |
Retail Health
In retail health insurance business, Star Health & Allied leads with the total premium of Rs. 15,400 crore. Care Health follows with premium of Rs. 5,100 crore.
Then come Niva Bupa with Rs. 4,400 crore, HDFC Ergo General at Rs. 4,200 crore, and New India Assurance with Rs. 3,400 crore.
Overall, the industry has collected a total health premium of Rs. 47,300 crore in FY 25 from individual retail policies.
|
General Insurers |
Health-Retail |
|
Star Health & Allied |
15413 |
|
Care Health Insurance |
5111.36 |
|
Niva Bupa health |
4432.5 |
|
HDFC Ergo General |
4212.7 |
|
The New India Assurance Co |
3422.78 |
|
National |
2444.14 |
|
The Oriental Insurance |
1859.07 |
|
United India |
1718.77 |
|
ICICI Lombard General |
1556.23 |
|
Aditya Birla Health |
1440.17 |
Group Health
The industry has received gross premium premium of Rs. 60,800 crore from group health policies, which is an increase of 10.54% from FY24.
New India Assurance is on the top with total group premium of Rs. 13000 crore. Next are Oriental Insurance at Rs. 5,800 crore, ICICI Lombard General with Rs. 5,400 crore, National Insurance at Rs. 4,800 crore, and United India with Rs. 3,550 crore.
|
General Insurers |
Health-Group |
|
The New India Assurance Co |
12996.5 |
|
The Oriental |
5801.56 |
|
ICICI Lombard General |
5393.8 |
|
National |
4778.18 |
|
United India |
3547.35 |
|
Bajaj Allianz General |
3260.12 |
|
SBI General |
3040.23 |
|
Aditya Birla Health |
2956.87 |
|
Care Health Insurance |
2906.42 |
|
Niva bupa health |
2183.84 |
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