Standalone health insurers in India recorded a 30.9% year-on-year increase in Gross Direct Premium Income (GDPI) to Rs 43.7 billion in June 2026, significantly outperforming diversified private and public sector general insurers, according to a report by YES Securities. The brokerage highlighted that this segment remains the strongest performer in the general insurance industry and is likely to continue leading growth.
Growth Comparison Across Insurer Types
The report noted that private diversified insurers grew only 15.1% YoY, while public sector diversified insurers managed 13.2% growth during the same period. On a monthly basis, standalone health insurers also saw a 13.8% rise in premium collections, reflecting sustained demand for specialized health insurance products.
“Standalone health insurers continue to outperform diversified private sector players,” the YES Securities report stated. The segment’s market share increased to 16.1% in June, up from the previous year, indicating a shift in consumer preference toward dedicated health insurance providers.
Company-Wise Performance
Among individual standalone health insurers, Star Health reported GDPI of Rs 15.9 billion, up 19.2% YoY. Niva Bupa posted one of the strongest growth rates, with premiums rising 34.3% to Rs 8 billion. Care Insurance also recorded healthy growth of 41.9% YoY.
Within diversified private insurers, HDFC ERGO grew 33.5% YoY despite a monthly decline. Bajaj Allianz General’s premiums rose 21.8%, while ICICI Lombard reported 13.7% growth. Go Digit, however, saw premiums decline 2.8% YoY.
Industry-Wide Trends
The overall general insurance industry recorded GDPI of Rs 271.96 billion in June 2026, up 16.1% YoY and 12.4% over the previous month. The strong performance of standalone health insurers is expected to drive greater competition and product innovation in the health insurance segment, potentially offering consumers a wider choice of products.
