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Life Insurers Eyes 15% Growth as Jefferies Warns of IRDAI Risks
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CNBC TV18•09-10-2026, 12:58
Life Insurers Eyes 15% Growth as Jefferies Warns of IRDAI Risks
- •India's life insurance sector anticipates a 10 to 15 percent growth in annualised premium equivalent for the July-September quarter of 2026.
- •Jefferies flags potential risks from the IRDAI's draft distribution paper, noting that distributors face commission deflation and delayed profits.
- •SBI Life Insurance and ICICI Life Insurance are projected to outperform the broader industry in annualised premium equivalent growth.
- •Health insurers in the general insurance space expect 18 to 29 percent growth, supported by GST waiver tailwinds.
- •PB Fintech is projected to report a 36 percent premium growth and a 31 percent revenue increase for the quarter.
Key Questions Answered
India's life insurance sector is projected to post a 10% to 15% growth in annualised premium equivalent (APE) for the July-September quarter of 2026 (Q2FY27).
The proposed IRDAI draft distribution paper is expected to severely impact distributors due to commission deflation, which could push out projected profits for 2027-28 (FY28) by two to three years.
Health insurers are expected to grow between 18% and 29%, aided by goods and services tax (GST) waiver tailwinds, while multi-line general insurers could see premium growth decline by 1% to 2%.
