India’s life insurance industry recorded another month of strong expansion in November, with premium growth gaining momentum following the removal of goods and services tax (GST) on select insurance products.

Retail weighted received premium (RWRP) rose 27% year-on-year, underscoring continued recovery in customer demand and sustained traction across private insurers.

State-run Life Insurance Corporation of India (LIC) posted 23% growth in November, supported by a favourable base, while private-sector insurers grew 28%, maintaining their lead in overall expansion.

Among large private players, SBI Life reported the strongest performance with a 33% rise in premiums. Max Life and HDFC Life followed with 23% and 20% growth, respectively, while ICICI Prudential Life grew about 13%.

Bajaj Li

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