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In Q1 FY27, private life insurers grew first-year premium 27.5% against LIC’s 10.3%, and LIC’s share slipped to 60.1% from 63.5%. Updated 12 October 2026 with H1 data: in Q2, LIC grew faster and took back share.
LIC’s 61st month persistency dropped from 63.1 to 59.3 percent in FY26. Three of four listed private insurers saw the same ratio fall. Between 36 and 45 percent of policies sold five years ago have lapsed.
Life insurers collected Rs 30,550 crore in first-year premium in April 2026, up 39%. Group single premium was 62% of it, but most of that was LIC’s group fund business, which carries almost no life cover. Corrected 12 October 2026.