Indian Life Insurance Sector Sees Premium Decline in February
Data released by the Insurance Regulatory and Development Authority of India (IRDAI) reveals a contraction in the first-year premiums of the Indian life insurance sector. Specifically, first-year premiums decreased by 11.58% year-on-year (YoY) in February 2025.
While the monthly figures showed a decline, the year-to-date (YTD) performance presented a more positive outlook, with first-year premiums increasing by 5.71% YoY.
However, alongside the premium decrease, the number of policies and schemes also saw a downturn. The number of policies and schemes decreased by 22.22% YoY for the month and 4.77% YTD.
Turning to the sum assured, the month of February experienced a marginal increase of 0.88% YoY, with a more significant 16.22% increase YTD. These figures point to a complex market situation with varied performance metrics.
