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EQUITY - MARKET SCREENER

Siemens Ltd
Industry :  Electric Equipment
BSE Code
ISIN Demat
Book Value()
500550
INE003A01024
366.188521
NSE Symbol
P/E(TTM)
Mar.Cap( Cr.)
SIEMENS
85.5
130863.6
EPS(TTM)
Face Value()
Div & Yield %
42.98
2
0.33
 

Life insurers sector saw 16% premium growth in FY26, on GST relief, high-margin products shift
Apr 22,2026

Driven by a shift towards products featuring GST exemptions and higher profit margins, life insurance companies recorded a 16% growth in premium income during the financial year 2026.

Following the announcement of GST exemptions in September 2025—and bolstered by the growth of regular premium products—the life insurance sector registered a 16% increase in total new business premium income in FY26.

This resurgence was underpinned by balanced expansion across both private insurance companies and the state-owned Life Insurance Corporation of India (LIC). Private sector insurers spearheaded this growth with a 16.75% rise in premiums, while LIC recorded an increase of 14.91%.

At the industry level, growth within the individual single-premium (or non-regular premium) segment stood at 12.3% for private companies. However, in this specific segment, LIC lagged behind its peers, recording a slower growth rate of 4.54%.

Among listed private companies, performance was mixed. SBI Life Insurance and Axis Max Life Insurance recorded premium income growth of nearly 20%, at 19.6% and 19.12% respectively. In contrast, HDFC Life Insurance Company registered an 8.54% rise in total new business premiums. Meanwhile, ICICI Prudential Life Insurance Company witnessed a 9.86% increase—a relatively slower growth rate compared to some of the other major private insurers. This surge in premium collection was driven by shifts in the product mix and improved profitability metrics. Sales growth was bolstered by a higher mix of retail protection products, as well as by insurers focusing on product-level profitability through higher sum assured amounts, longer policy tenures, and increased rider attachments.

The government's decision to exempt individual life and health insurance premiums from the 18% Goods and Services Tax (GST) starting September 2025 reduced costs for policyholders, enhanced affordability, and further supported the growing demand for higher sum assured amounts and long-term policies.

Insurers—including LIC—are increasingly focusing on traditional savings and protection products with higher profit margins, prioritizing value creation over volume growth.