July Premium Growth: ICICI Lombard Rebounds, New India Assurance Outperforms

India’s general and health insurance sector witnessed strong momentum in premium collections in July, with several insurers reporting double-digit growth both month-on-month (MoM) and year-on-year (YoY). The latest data highlights a resurgence in inflows across both public and private players.

New India Assurance Leads with Consistent Growth

New India Assurance demonstrated solid performance across all metrics:

• MoM Growth: 24% rise in July
• YoY Growth: 16% increase
• YTD Performance: 16% higher than the same period last year

This continues the company’s upward trend, following an 11% YoY and 13% MoM growth in June, and a 15% increase in premiums during the April–June quarter, outpacing overall industry growth.

ICICI Lombard Bounces Back After June Dip

ICICI Lombard saw a sharp rebound in July:

• MoM Premium Growth: 25% increase

This marks a notable recovery from June, when the company had reported:

• YoY Decline: 11% drop in gross direct premiums
• Sequential Fall: 8% MoM decline
• Q1 Growth: Just 1%, compared to the industry average of 9%

Go Digit Posts Strong Double-Digit Gains

Go Digit recorded impressive gains across all timeframes:

• MoM Growth: 19% in July
• YoY Growth: 27% increase
• YTD Premiums: Up 12% YoY

Niva Bupa Sees Steady Climb

Health insurer Niva Bupa reported moderate but consistent growth:

• MoM Growth: 7% in July
• YoY Growth: 10%
• YTD Premiums: Up 11% YoY

Star Health Shows Modest Momentum

Star Health also posted positive, albeit modest, growth figures:

• MoM Premiums: 13% rise in July
• YoY Growth: 3%
• YTD Performance: up 3% YoY

Also Read: Alembic Pharma Q1 FY26 Earnings Profit Rises 14% YoY; Revenue Up 9.5% Backed by Global Growth

Industry-Wide Revival Evident in July Data

The latest monthly figures underline a broader pickup in premium inflows across the insurance sector. July marked a turnaround month, especially for companies like ICICI Lombard, which had underperformed in the previous quarter. Public sector insurers like New India Assurance continue to outperform the broader market, reinforcing confidence in the sector’s growth trajectory.

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