CareEdge: Non-Life Insurance Sector Grew 8.6% in FY26, Health Insurance Leads Growth

CareEdge Ratings released its analysis of the non-life insurance sector performance for FY26, reporting industry GDPI growth of 8.6% to approximately Rs 3.3 lakh crore. The health insurance segment was the primary growth driver, supported by the GST exemption.

Key Findings: Standalone Health Insurers outperformed with ~19% growth. Excluding the crop segment, the industry GDPI grew 13.4% in 11M FY26. ICRA expects GDPI to grow 9.7-10.6% in FY2027.

Source: CareEdge Ratings, ICRA Insurance Sector Report (April 2026)