Robust expansion in both individual and group sectors elevated the life insurance industry's new business premium (NBP) by 12.06% year-over-year to Rs. 34,006.90 crore (US$ 3.83 billion) in October 2025, according to information from the Life Insurance Council. The waiver of the Goods and Services Tax (GST) led to an increase in policy sales and premium collections for the month. The NBP in October 2024 was at Rs. 30,347.60 crore (USD 3.42 billion). The state-owned Life Insurance Corporation of India (LIC) announced a 12.5% year-on-year rise to Rs. 19,274.01 crore (US$ 2.17 billion), whereas private life insurance companies experienced an 11.5% year-on-year increase to Rs. 14,732.90 crore (US$ 1.66 billion). The personal insurance sector increased by 18.3% year-over-year to Rs. 12,932.50 crore (US$ 1.46 billion), as the group premium increased by 8.6% compared to the previous year to Rs. 21,174.40 crore (USD 2.39 billion). LIC, the top player in group insurance, experienced a 7.8% rise to Rs. 14,470.50 crore (US$ 1.63 billion), as private insurers increased by 10.3% to Rs. 6,703.92 crore (US$ 755.71 million). In the individual sector, LIC’s premium surged by 29.4% to Rs. 4,803.50 crore (US$ 541.48 million), while private insurers experienced a 17.3% decline. Among private companies, State Bank of India (SBI) Life Insurance topped with a 20.3% increase to Rs. 3,185.01 crore (US$ 359.04 million), succeeded by HDFC Life Insurance (1.06%), ICICI Prudential Life Insurance (6.5%), Axis Max Life Insurance (8.2%), and Bajaj Allianz Life Insurance (15%). The total policies sold jumped 62.7% year-over-year to 1.95 million, with LIC’s sales increasing by 120% and private insurers seeing a 10.5% rise. From April to October 2025-26, the industry premium increased by 8.2% year-over-year to Rs. 2,40,000 crore (US$ 27.05 billion), bolstered by consistent growth from both LIC and private insurance companies/