General Insurance Growth Remains Moderate in March 2026: ICICI Lombard Tops with 21% Growth

India’s general insurance sector posted a mixed showing in March, with overall growth remaining moderate even as a few private insurers outperformed the broader market. Industry-wide gross direct premium income expanded by around 8% year-on-year during the month.

Top Performer: ICICI Lombard

ICICI Lombard General Insurance emerged as a clear standout, reporting a 21% year-on-year increase in premiums, well ahead of the industry average. The company also demonstrated strong quarterly momentum, with premiums rising 18% in the fourth quarter of FY26, compared with a 5% increase in the same period last year.

Performance of Other General Insurers

Among other players, New India Assurance recorded a 13% growth in premiums, indicating steady expansion, while Go Digit General Insurance posted a relatively moderate 10% increase during the month.

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Health Insurance Segment Trends

The health insurance segment showed divergent trends. Niva Bupa Health Insurance led the pack with a robust 37% growth, significantly surpassing the segment’s average growth rate of about 22%. In contrast, Star Health and Allied Insurance reported a 16% increase in premiums, falling short of the broader health insurance industry pace.

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