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Toh, FY26 mein jo 15.7% ka growth dekha gaya hai na, ye FY25 ke 5.1% growth se kaafi better hai. Aur FY24 mein toh sirf 2.0% hi badha tha. March 2026 mein toh aur bhi tezi aayi, collections 23.5% upar gaye year-on-year. Interesting baat ye hai ki policy volume toh sirf 4.7% badha (lagbhag 2.83 crore policies), lekin premium collection zyaada bhaga. Iska matlab hai ki logon ne average ₹₹₹ wali policies li hain, yani ki higher value products.
Is poore boom ka sabse bada credit jata hai group insurance segment ko. Group single premiums 17.5% badh kar ₹2.49 lakh crore tak pahunch gaye. Aur group yearly renewable premiums mein toh 39% ka zabardast jump mila. Individual segment bhi piche nahi raha, non-single premiums 10.1% aur single premiums 12.3% badhe.
Agar companies ki baat karein toh private players ne thoda zyada perform kiya, unka NBP 16.75% badh kar ₹1.99 lakh crore ho gaya. State-owned LIC ne bhi achha kiya, 14.91% badh kar ₹2.60 lakh crore kamaye, aur apni 56.66% market share maintain rakhi. Haalat yeh hai ki Axis Max Life jaise bade players ne toh zabardast growth dikhaya, lekin HDFC Life aur ICICI Prudential Life jaisi badi companies ke liye March ka performance thoda dheela raha, aur full fiscal year mein bhi unke figures mein halka decline dekha gaya.
Is rapid growth ka ek reason ye bhi hai ki industry ne latest regulatory changes ko adapt kar liya hai, jaise ki individual life policies par GST hatna, jisse policies zyada affordable ho gayi hain, especially protection products. Pehle bhi FDI limits badhane jaise changes ka fayda mila tha, ab toh 100% ho gaya hai. Ab focus quality aur persistency par hai, sirf volume par nahi. Aur haan, India ki badhti hui economy, sabki badhti income, cities ka expand hona aur logon ka financial awareness badhna bhi insurance sector ke liye bahut positive hai. Digitalization ne bhi help ki hai.
Lekin haan, aage chal kar thodi speed kam ho sakti hai. Analysts expect kar rahe hain ki FY27 mein growth 8-11% ke beech mein rahega. Market mein thoda adjustment aayega aur global uncertainties bhi ek factor hongi.
Ab sabse chinta ki baat pe aate hain. Itna sab growth hone ke baad bhi, ek bahut bada life insurance protection gap hai India mein. Matlab, desh mein 87% logo ke paas sufficient life insurance cover nahi hai! Aur young log jo 18-35 saal ke hain, unke liye ye gap 90% se bhi zyada hai. Ye log insurance lena 28 saal ki average age mein shuru karte hain.
Jo average policy values badh rahi hain na, woh shayad sabhi ke liye insurance ko afford karna mushkil bana de. Group policies ya high-value individual products par focus hone ki wajah se lagta nahi ki sabko financial security mil pa rahi hai. Plus, share market mein utaar-chadhav ya global issues ki wajah se bhi log ULIPs aur traditional products kharidne mein hesitate kar sakte hain. Agar interest rates badhti hain toh bhi log soch samajh kar kharidenge.