Health insurance has significantly strengthened its position in India's non-life insurance industry, with its share rising to 40.8% in FY26 from 38.6% in the previous year, according to reports from The Times of India. This steady increase demonstrates the growing importance of health insurance in the overall non-life insurance landscape. The health segment's growth rate of 15.4% substantially outpaced the industry's overall growth of 9.3%, with total gross direct premium income reaching nearly ₹3.4 lakh crore in FY26.
The health insurance segment generated approximately ₹1.4 lakh crore in premiums during FY26, as reported by The Times of India. Standalone health insurers demonstrated exceptional performance by accounting for 32.7% of total health insurance premium, underwriting ₹44,863.7 crore out of the industry's total health premium of ₹1,37,144.5 crore. These standalone insurers outperformed the broader industry with growth of 19.4%, significantly higher than the overall industry growth rate.
The top five insurers in the health segment showed varied performance levels, according to The Times of India reports. New India Assurance led with ₹21,531.5 crore in premiums and a 15.7% market share of health insurance. Star Health & Allied Insurance followed with ₹18,435 crore and 13.4% share, while Care Health Insurance secured ₹9,768.4 crore representing 7.1% of the market. ICICI Lombard contributed ₹8,617.3 crore (6.3%) and Niva Bupa Health Insurance added ₹8,479.7 crore (6.2%) to the segment.
While health insurance dominated growth, other segments showed mixed performance patterns, as reported by The Times of India. Motor insurance, the second-largest segment, maintained its share at 32.2% with premiums of approximately ₹1.1 lakh crore and growth of 9.2%. Fire insurance demonstrated positive momentum by increasing its share to 8.2% from 7.9%, with premiums of ₹27,523.8 crore and growth of 13.4%. Personal accident insurance recorded the fastest growth of 35%, raising its share to 3.5% from 2.8% with premiums of ₹11,603.7 crore.
