India Insurance Sector Report 2025-2026

The government implemented insurance sector liberalisation in the 2000s to foster industry competition. The emergence of private insurers, increased competition, and a diverse array of insurance offerings in India have all contributed to the significant transformation of the insurance landscape since that time. IRDAI was established in 1999 as an autonomous entity with the responsibility of regulating and advancing the insurance sector following the recommendations of the Malhotra Committee report. Subsequently, the government increased the FDI limit in the insurance sector, resulting in a higher level of foreign involvement and an increase in the number of domestic insurance companies. At the close of fiscal year 2024, India had 45 general insurers and reinsurers, 25 life insurance companies, and 45 general insurers and reinsurers (including specialised insurers, standalone health insurers, and foreign reinsurer subsidiaries).

This report provides a complete and detailed analysis of the "Banking and insurance" sector for India. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.

What this report allows you to do:

• Understand the key elements at play in the "Banking and insurance" sector in India
• Crystallise the forces both driving and restraining this sector in India
• Ascertain India’s position in the global sector
• Build a complete perspective on sector trade, investment and employment
• Understand the competitive landscape and who the major players are
• View M&A activity and major deals
• Gain an understanding of the regulatory environment for the sector in India.
• Build a clear picture of trends, output and consumption for specific sub-sectors