IRDAI data · FY2024-25 · published by IRDAI on 3 February 2026
General Insurance Market Share in India by Insurer, FY2024-25
New India Assurance wrote the most general insurance in India in FY2024-25, 12.6% of the market. In fire insurance the largest insurer was New India Assurance, with 16.3% of fire premium; in marine it was New India Assurance, with 17.2%. The five largest fire insurers wrote 54.7% of all fire premium.
Every general and health insurer's premium in each line, from the regulator's own table, with ten years of the market behind it. The lines a business buys come first.
Key takeaways
- Indian general and health insurers wrote ₹3,07,611 crore of gross direct premium in FY2024-25, up 6.2% on the year before.
- Health, with personal accident and travel, was the largest line at 41.4% of the market, and motor the second at 32.2%.
- Fire premium fell 5.5% to ₹24,242 crore, while marine grew 8.1%. Premium is a rate applied to a sum insured, so the table alone cannot say whether rates or values fell.
- New India Assurance was the largest fire insurer with 16.3% of fire premium, and the five largest together wrote 54.7%.
- Size says how much of a line an insurer writes, not how well it handles a claim: read it beside the settlement, solvency and complaint figures.
On this page: Fire · Marine · Motor · Health · All lines · Ten years · Questions
Gross direct premium written in India in FY2024-25, ₹ crore, as IRDAI printed it in Table 41. Market share is each insurer's premium as a share of all insurers' premium in that line; the change is against FY2023-24.
Largest fire insurance companies in India, FY2024-25
Fire includes loss of profits (business interruption).
| # | Insurer | Premium ₹ crore | Market share | Change on FY2023‑24 |
|---|---|---|---|---|
| 1 | New India Assurance | 3,944 | 16.3% | −10.2% |
| 2 | ICICI Lombard General Insurance | 3,143 | 13.0% | −6.7% |
| 3 | Bajaj General (formerly Bajaj Allianz) | 2,499 | 10.3% | +4.4% |
| 4 | Tata AIG General Insurance | 1,903 | 7.9% | −8.3% |
| 5 | United India Insurance | 1,775 | 7.3% | −14.8% |
| 6 | HDFC ERGO General Insurance | 1,759 | 7.3% | −2.1% |
| 7 | SBI General Insurance | 1,535 | 6.3% | −15.5% |
| 8 | Oriental Insurance | 1,534 | 6.3% | −1.5% |
| 9 | National Insurance | 1,221 | 5.0% | +2.6% |
| 10 | IndusInd General (formerly Reliance General) | 1,114 | 4.6% | +0.2% |
| 11 | IFFCO Tokio General Insurance | 875 | 3.6% | −9.8% |
| 12 | Cholamandalam MS General | 662 | 2.7% | −7.5% |
| 13 | Generali Central (formerly Future Generali India) | 582 | 2.4% | +5.5% |
| 14 | Go Digit General | 484 | 2.0% | −0.6% |
| 15 | Magma General (formerly Magma HDI) | 336 | 1.4% | +7.4% |
| All insurers | 24,242 | 100% | −5.5% |
7 more insurers wrote fire business in FY2024-25, together 3.6% of the market.
Largest marine insurance companies in India, FY2024-25
Marine cargo and hull together.
| # | Insurer | Premium ₹ crore | Market share | Change on FY2023‑24 |
|---|---|---|---|---|
| 1 | New India Assurance | 947 | 17.2% | −3.8% |
| 2 | ICICI Lombard General Insurance | 882 | 16.0% | +15.5% |
| 3 | Tata AIG General Insurance | 742 | 13.5% | +9.7% |
| 4 | Oriental Insurance | 506 | 9.2% | +7.4% |
| 5 | United India Insurance | 439 | 8.0% | +2.8% |
| 6 | Bajaj General (formerly Bajaj Allianz) | 383 | 7.0% | +27.8% |
| 7 | IFFCO Tokio General Insurance | 322 | 5.9% | +5.5% |
| 8 | National Insurance | 322 | 5.8% | +16.8% |
| 9 | HDFC ERGO General Insurance | 159 | 2.9% | −14.5% |
| 10 | Cholamandalam MS General | 146 | 2.6% | +11.2% |
| 11 | IndusInd General (formerly Reliance General) | 138 | 2.5% | +0.1% |
| 12 | Generali Central (formerly Future Generali India) | 127 | 2.3% | +11.5% |
| 13 | SBI General Insurance | 97 | 1.8% | +16.7% |
| 14 | Universal Sompo General Insurance | 82 | 1.5% | +40.4% |
| 15 | Royal Sundaram General Insurance | 62 | 1.1% | +15.1% |
| All insurers | 5,504 | 100% | +8.1% |
7 more insurers wrote marine business in FY2024-25, together 2.7% of the market.
Largest motor insurance companies in India, FY2024-25
| # | Insurer | Premium ₹ crore | Market share | Change on FY2023‑24 |
|---|---|---|---|---|
| 1 | ICICI Lombard General Insurance | 10,740 | 10.8% | +11.5% |
| 2 | New India Assurance | 10,493 | 10.6% | +10.2% |
| 3 | Tata AIG General Insurance | 9,085 | 9.2% | +22.2% |
| 4 | United India Insurance | 8,124 | 8.2% | +15.3% |
| 5 | Bajaj General (formerly Bajaj Allianz) | 6,340 | 6.4% | +8.4% |
| 6 | Go Digit General | 5,864 | 5.9% | +7.2% |
| 7 | Cholamandalam MS General | 5,427 | 5.5% | +9.3% |
| 8 | National Insurance | 5,342 | 5.4% | +6.1% |
| 9 | SBI General Insurance | 4,669 | 4.7% | +31.2% |
| 10 | IndusInd General (formerly Reliance General) | 4,658 | 4.7% | +6.8% |
| 11 | Oriental Insurance | 4,485 | 4.5% | +6.3% |
| 12 | IFFCO Tokio General Insurance | 4,170 | 4.2% | −4.6% |
| 13 | Shriram General Insurance | 3,478 | 3.5% | +25.2% |
| 14 | HDFC ERGO General Insurance | 3,064 | 3.1% | −41.9% |
| 15 | Royal Sundaram General Insurance | 2,497 | 2.5% | −2.9% |
| All insurers | 99,093 | 100% | +8.0% |
10 more insurers wrote motor business in FY2024-25, together 10.8% of the market.
Largest health insurance companies in India, FY2024-25
Health includes personal accident and travel, as IRDAI groups them in this table. The claims these insurers incurred against that premium are on the incurred claim ratio page.
| # | Insurer | Premium ₹ crore | Market share | Change on FY2023‑24 |
|---|---|---|---|---|
| 1 | New India Assurance | 19,756 | 15.5% | +4.7% |
| 2 | Star Health & Allied Insurance | 16,716 | 13.1% | +9.6% |
| 3 | Oriental Insurance | 9,994 | 7.8% | +11.1% |
| 4 | National Insurance | 8,590 | 6.7% | +15.3% |
| 5 | Care Health Insurance | 8,297 | 6.5% | +20.9% |
| 6 | Bajaj General (formerly Bajaj Allianz) | 8,043 | 6.3% | +15.8% |
| 7 | ICICI Lombard General Insurance | 7,636 | 6.0% | +7.3% |
| 8 | United India Insurance | 7,519 | 5.9% | −8.8% |
| 9 | Niva Bupa Health Insurance | 6,762 | 5.3% | +20.6% |
| 10 | HDFC ERGO General Insurance | 6,100 | 4.8% | −6.7% |
| 11 | Aditya Birla Health Insurance | 4,822 | 3.8% | +30.3% |
| 12 | SBI General Insurance | 4,731 | 3.7% | +18.3% |
| 13 | Tata AIG General Insurance | 3,592 | 2.8% | +14.6% |
| 14 | IndusInd General (formerly Reliance General) | 2,217 | 1.7% | +7.9% |
| 15 | Generali Central (formerly Future Generali India) | 1,859 | 1.5% | +14.2% |
| All insurers | 1,27,417 | 100% | +9.2% |
16 more insurers wrote health, pa and travel business in FY2024-25, together 8.5% of the market.
General insurance market share by insurer, all lines, FY2024-25
Every line together, including crop, liability, engineering and credit insurance.
| # | Insurer | Premium ₹ crore | Market share | Change on FY2023‑24 |
|---|---|---|---|---|
| 1 | New India Assurance | 38,625 | 12.6% | +4.4% |
| 2 | ICICI Lombard General Insurance | 26,773 | 8.7% | +8.1% |
| 3 | Bajaj General (formerly Bajaj Allianz) | 21,417 | 7.0% | +4.6% |
| 4 | United India Insurance | 20,072 | 6.5% | +1.1% |
| 5 | Oriental Insurance | 19,789 | 6.4% | +8.2% |
| 6 | Tata AIG General Insurance | 17,703 | 5.8% | +17.3% |
| 7 | National Insurance | 16,767 | 5.5% | +10.9% |
| 8 | Star Health & Allied Insurance | 16,716 | 5.4% | +9.6% |
| 9 | HDFC ERGO General Insurance | 15,817 | 5.1% | −14.8% |
| 10 | SBI General Insurance | 13,890 | 4.5% | +10.6% |
| 11 | IndusInd General (formerly Reliance General) | 12,548 | 4.1% | +7.4% |
| 12 | Agriculture Insurance Company of India | 9,742 | 3.2% | −2.0% |
| 13 | Go Digit General | 8,472 | 2.8% | +6.7% |
| 14 | IFFCO Tokio General Insurance | 8,312 | 2.7% | −15.5% |
| 15 | Care Health Insurance | 8,297 | 2.7% | +20.9% |
| 16 | Cholamandalam MS General | 8,124 | 2.6% | +7.9% |
| 17 | Niva Bupa Health Insurance | 6,762 | 2.2% | +20.6% |
| 18 | Generali Central (formerly Future Generali India) | 5,408 | 1.8% | +10.1% |
| 19 | Universal Sompo General Insurance | 5,078 | 1.7% | +9.9% |
| 20 | Aditya Birla Health Insurance | 4,822 | 1.6% | +30.3% |
| 21 | Royal Sundaram General Insurance | 3,763 | 1.2% | +3.5% |
| 22 | Shriram General Insurance | 3,753 | 1.2% | +23.6% |
| 23 | Magma General (formerly Magma HDI) | 3,334 | 1.1% | +9.5% |
| 24 | Liberty General Insurance | 2,246 | 0.7% | +4.2% |
| 25 | Acko General Insurance | 2,065 | 0.7% | +10.4% |
| 26 | Zurich Kotak General (formerly Kotak Mahindra General) | 1,915 | 0.6% | +20.7% |
| 27 | ManipalCigna Health Insurance | 1,798 | 0.6% | +6.3% |
| 28 | ECGC | 1,367 | 0.4% | +7.5% |
| 29 | Zuno General Insurance | 992 | 0.3% | +19.0% |
| 30 | Kshema General Insurance | 771 | 0.3% | +35.7% |
| 31 | Raheja QBE General Insurance | 353 | 0.1% | +19.4% |
| 32 | Navi General Insurance | 100 | 0.0% | +41.2% |
| 33 | Galaxy Health Insurance | 17 | 0.0% | – |
| 34 | Narayana Health Insurance | 2 | 0.0% | – |
| All insurers | 3,07,611 | 100% | +6.2% |
General insurance premium in India by line, FY2015-16 to FY2024-25
| Year | Fire | Marine | Motor | Health, PA and travel | Liability, engineering and other | All lines |
|---|---|---|---|---|---|---|
| FY2024-25 | 24,242 | 5,504 | 99,093 | 1,27,417 | 51,355 | 3,07,611 |
| FY2023-24 | 25,667 | 5,091 | 91,781 | 1,16,694 | 50,440 | 2,89,673 |
| FY2022-23 | 23,936 | 5,059 | 81,280 | 97,664 | 48,956 | 2,56,894 |
| FY2021-22 | 21,551 | 4,168 | 70,433 | 80,502 | 44,046 | 2,20,700 |
| FY2020-21 | 20,113 | 3,488 | 67,792 | 63,753 | 43,569 | 1,98,715 |
| FY2019-20 | 15,729 | 3,532 | 68,951 | 56,865 | 43,839 | 1,88,917 |
| FY2018-19 | 11,668 | 3,238 | 64,522 | 50,834 | 39,187 | 1,69,448 |
| FY2017-18 | 10,781 | 2,895 | 59,246 | 41,981 | 35,760 | 1,50,662 |
| FY2016-17 | 9,538 | 2,917 | 50,251 | 34,527 | 30,896 | 1,28,128 |
| FY2015-16 | 8,731 | 2,984 | 42,301 | 27,457 | 14,905 | 96,379 |
Gross direct premium written in India, ₹ crore, as IRDAI printed it. Health includes personal accident and travel; fire includes loss of profits.
What these figures are
Gross direct premium is the premium an insurer wrote on policies it issued in India in the year, before anything was passed to reinsurers. It measures how much business an insurer took on in each line. It is the figure IRDAI uses for market share, and the one this page ranks by.
The rows are IRDAI's, unaltered, and every column was checked to add up to the total IRDAI printed beneath it before this page was built. Where an insurer has been renamed and IRDAI records the change, the current name is shown.
Why the size of an insurer matters to a commercial buyer
For a large or unusual fire, marine or engineering risk, the insurers that write the most of that line are the ones with the underwriting teams, the reinsurance capacity and the surveyor panels to take it on without hesitation. A risk an insurer rarely sees is one it prices cautiously or declines.
Size is not the whole answer. When we place a commercial risk we approach the insurers that actually write that line in volume, then compare their wordings, not just the largest name.
Reading a falling fire market
Fire premium fell from ₹25,667 crore in FY2023-24 to ₹24,242 crore in FY2024-25. Premium is a rate applied to a sum insured, so a fall comes from lower rates, lower sums insured, or both, and this table cannot say which. Either way it is worth a buyer's attention at renewal: if rates have softened, correcting a sum insured that has fallen behind replacement cost costs less than it did.
Reading the study period
IRDAI publishes the Handbook once a year, on a lag. The 2024-25 edition, published on 3 February 2026, is the most recent, so its figures describe the year to 31 March 2025. The ten-year table at the end shows each line as IRDAI printed it in this edition.
Frequently asked questions
Which is the largest general insurance company in India?
By gross direct premium in FY2024-25, New India Assurance, with ₹38,625 crore and 12.6% of the market, on IRDAI's figures.
Which is the largest fire insurance company in India?
New India Assurance wrote the most fire insurance premium in FY2024-25, ₹3,944 crore, 16.3% of the market. The five largest fire insurers together wrote 54.7%.
Which is the largest marine insurance company in India?
New India Assurance, with ₹947 crore of marine premium in FY2024-25, 17.2% of the market, on IRDAI's figures.
Which insurer writes the most motor insurance in India?
ICICI Lombard General Insurance, with ₹10,740 crore of motor premium in FY2024-25, 10.8% of the market.
How big is the general insurance market in India?
Gross direct premium written in India was ₹3,07,611 crore in FY2024-25, up 6.2% on the year before. Health with personal accident and travel was ₹1,27,417 crore, motor ₹99,093 crore, fire ₹24,242 crore and marine ₹5,504 crore.
Is a bigger insurer a better insurer?
Not on its own. Size shows how much of a line an insurer writes, which matters for capacity and experience with large or unusual risks. Whether it pays claims, could survive a bad year and how often policyholders complain are separate measures, each on its own page here.
Where does this data come from?
IRDAI's Handbook on Indian Insurance Statistics, Table 41, which prints every general and health insurer's gross direct premium by line. The 2024-25 edition, published on 3 February 2026, is the most recent.
Size is one measure. Whether an insurer pays: claim settlement ratios. Whether it could pay after a bad year: solvency ratios. How often its customers complain: complaint rates. How much of its health premium it pays out: incurred claim ratios. The cover itself: fire, marine and engineering.