GDPI & Policies

Gross Direct Premium income (in India) written by Non-Life Insurance Industry increased from ₹2,89,673 Crores in 2023-24 to ₹3,07,633 in 2024-25. Lines of business namely Motor, Health & Personal Accident insurance constituted more than two-thirds of the Non-Life Insurance premium. Crop insurance and credit is an important segment in Other Misc class of business.

Chart 4.1.1Segment-wise share of GDPI

Source: Form I of I to X and Council Compilation

The total number of policies issued by the Non-Life Insurance Industry increased significantly, rising from 33.48 crore policies in 2023-24 to 39.01 crore policies in 2024-25. However, there was a shift in the distribution of policies across different segments. The share of policies issued under the overall Motor insurance segment declined from 50.0% in 2023-24 to 46.2% in 2024-25. Personal Accident & Health Policies have also declined from 14.8% in 2023-24 to 12.5% in 2024-25. On the other hand, the proportion of policies under the “Other Miscellaneous” class of business saw a notable rise, growing from 31.0% in 2023-24 to 35.7% in 2024-25, mostly emanating from Crop Insurance Business.

Chart 4.1.2Segment-wise Policies Issued

Source: Form I of I to X and Council Compilation

Source: Form I of I to X and Council Compilation