India’s general insurance industry recorded steady growth in 2025, supported by higher awareness, improved penetration and a strong push towards digital-first solutions, said Mr. Subrata Mondal, Managing Director & CEO, IFFCO TOKIO General Insurance Company Limited.
Rising demand for health insurance, aided by the waiver of GST for retail customers, continued to support growth across health segments. The motor insurance segment also witnessed decent traction following GST reduction in the automobile sector, initiatives by OEMs, and stricter enforcement of mandatory insurance by government agencies.
Commenting on evolving risks, Mondal said, “Ever-growing complexity in risk perceptions and geo-political situation across the globe have resulted in emerging solutions in climate-linked risks, trade uncertainties, cyber-attacks, merger & acquisition and surety in Corporate sector.”
He highlighted the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, as a key development for the industry. Proposals such as allowing up to 100% FDI in insurance companies and formal recognition of Managing General Agents (MGAs) are expected to attract fresh capital, improve distribution efficiency and expand coverage to underserved segments.
Growing interest in GIFT City as an international insurance and reinsurance hub is also strengthening India’s position as a regional risk-management centre.
Looking ahead, Mondal said the sector remains optimistic about 2026, which is expected to be a year of consolidation, adaptability and sustainable growth, with insurers focusing on underwriting discipline, data-driven decision-making and customer-centric innovation.
