General insurance March data: ICICI Lombard grows 21% vs industry 8%

India’s general insurance sector reported varied premium growth trends for March, with some private insurers outperforming the broader industry even as overall expansion remained moderate.Data released for the month showed that ICICI Lombard General Insurance recorded a 21% year-on-year increase in gross direct premium income, significantly higher than the industry-wide growth of around 8% during the same period.

On a quarterly basis, the insurer reported an 18% rise in premiums for the fourth quarter of FY26, compared with a 5% increase in the corresponding quarter of the previous financial year.
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Health-focused insurers showed a mixed performance. Niva Bupa Health Insurance recorded a 37% growth in premiums, exceeding the segment’s broader growth rate of about 22%.

In contrast, Star Health and Allied Insurance reported a 16% increase, which was below the industry average for health insurance.

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