The life insurance industry has shown robust growth in September and the first half of FY25. In September 2024, the total premium collected by the industry rose by 14% year-on-year (YoY).

For the first half of FY25, the premium growth was even stronger at 19% YoY.

The private life insurance sector performed well, with September premiums increasing by 16% YoY.

The total premium for first half of FY25 saw a 12% YoY rise. Notably, the total Annual Premium Equivalent (APE) surged by 27% YoY, while retail APE jumped by 28% YoY.

HDFC Life reported a decent performance with total premiums up by 9% YoY in September. In the first half of FY25, total premiums grew by 12% YoY.

The total APE soared by 23% YoY, and retail APE increased by 25% YoY.

ICICI Prudential Life experienced a significant uptick, with total premiums rising by 21% YoY in September. The first half of FY25 saw a 17% YoY increase in premiums. Total APE grew by 34% YoY, while retail APE rose by 33% YoY.

Max Life reported a 29% YoY increase in total premiums for September.

The  premiums in first half of FY25 were up by 19% YoY.

Both total APE and retail APE rose by 38% YoY.

SBI Life faced challenges, with total premiums growing only 5% YoY in September. The first half of FY25 saw a decline of 3% in total premiums. The total APE remained flat YoY, while retail APE grew by 9% YoY.

Life Insurance Corporation (LIC) rebounded strongly, with total premiums rising by 12% YoY in September. The premiums in first half of FY25 surged by 25% YoY.

Total APE grew by 19% YoY, with retail APE seeing a notable increase of 48% YoY.