India’s general insurance industry recorded steady growth in 2025, supported by increasing consumer awareness, improved insurance penetration, and a strong shift towards digital-first solutions, said Mr. Subrata Mondal, Managing Director & CEO, IFFCO TOKIO General Insurance Company Limited.

According to Mondal, the health insurance segment continued to witness strong demand during the year, aided by the waiver of GST for retail customers, which helped improve affordability and access across key health insurance products. The motor insurance segment also saw healthy traction, driven by GST reduction in the automobile sector, proactive initiatives by original equipment manufacturers (OEMs), and stricter enforcement of mandatory motor insurance by government agencies.

Commenting on emerging risks, Mondal said, “Ever-growing complexity in risk perceptions and the evolving geo-political situation across the globe have resulted in the need for innovative solutions addressing climate-linked risks, trade uncertainties, cyber threats, mergers and acquisitions, and surety solutions in the corporate sector.”

He further highlighted the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, as a significant development for the industry. Key proposals under the bill—including allowing up to 100% foreign direct investment (FDI) in insurance companies and formal recognition of Managing General Agents (MGAs)—are expected to attract fresh capital, enhance distribution efficiency, and expand insurance coverage across underserved and unserved segments.

Mondal also pointed to the growing interest in GIFT City as an international insurance and reinsurance hub, noting that it is strengthening India’s position as a regional centre for risk management and global insurance operations.

Looking ahead, he expressed optimism for the coming year, stating that 2026 is expected to be a year of consolidation, adaptability, and sustainable growth, with insurers sharpening their focus on underwriting discipline, data-driven decision-making, and customer-centric innovation.