Page 17 - The Insurance Times August 2025

Life Insurance Policy Sales premiums declined sharply by 34.97% and instant issuance-leveraging Angel
to 4,629. Individual single premium One's 2-crore client base and LivWell's
Drop 10% in Q1 FY26 Amid policies dropped 3.10%, and individual wellness-tech expertise. Industry

Regulatory Changes non-single premium policies fell veterans are being tapped for key
Life insurance policy sales in India 10.44%. FY25 saw a 7.39% overall dip leadership roles, and the partners will
declined 10.11% year-on-year in Q1 in policy sales. seek IRDAI approval over the next few
FY26 to 4.8 million, down from 5.37 months.
million in Q1 FY25, as insurers adjusted Angel One to Invest Rs. 400 Angel One says the move diversifies its
to new surrender value norms and Crore in Life-Insurance Joint fee income and deepens engagement
faced lower demand. Data from the Life Venture with Singapore's with young investors, while LivWell gains
Insurance Council shows Life Insurance a springboard into one of the world's
Corporation (LIC) experienced a 14.8% LivWell fastest-growing life-insurance markets.
fall in policy sales to 3.04 million, while Stock-broking platform Angel One will Launch is targeted for FY 2026, subject
private insurers saw a marginal 0.8% pump Rs. 400 crore into a new life- to regulatory clearances.
decline to 1.7 million. insurance joint venture with

A slowdown in credit life policies, Singapore-based LivWell Holdings, Canara HSBC Life Launches
driven by weak credit demand and creating a "digital-first" insurer focused 'SecureInvest' ULIP with
recent tax rebate changes, also on India's under-insured middle class.
contributed to the dip. Credit life Under the MoU, Angel One will take a Life Cover up to 100×
insurance pays off a borrower's debt in 26 per cent stake, while LivWell will Annual Premium
the event of death. own 74 per cent, the maximum Canara HSBC Life Insurance has
foreign shareholding allowed.
Group single premium policy sales fell unveiled SecureInvest, a unit-linked,
3.37% to 583 policies, and group non- The venture aims to offer fully online non-participating life policy that
single premium policies dropped 2.67% protection and savings products with marries market-linked growth with
to 940. Group yearly renewable simple wording, transparent pricing unusually high protection. Available in
two variants, SecureInvest Choice
offers life cover for the full policy term
India's Insurance Industry Set to Top Rs. 25 Lakh and pays the fund value at maturity,
Crore by 2030 while SecureInvest Forever extends
coverage to age 85 for customers
India's insurance sector is poised to more than double in size-jumping from
seeking legacy planning.
about Rs. 11 lakh crore in total gross written premium (GWP) today to
roughly Rs. 25 lakh crore (US $300 billion) by 2030, according to a joint study Both options provide life insurance
by the Insurance Brokers Association of India (IBAI) and McKinsey & worth up to 100 times the annualised
Company. premium, backed by 12 investment
The report cites four main growth engines: rising household incomes that funds and six portfolio-management
expand the protection-seeking middle class; rapid digitisation and strategies. Policyholders can redirect
embedded-insurance models that slash distribution costs; regulator-led premiums, switch funds, and make
reforms that fast-track product approvals and promote micro-insurance; and partial withdrawals as goals evolve.
a maturing insurtech ecosystem capable of reducing acquisition costs by up To promote long-term savings, the plan
to 50 percent.
adds Loyalty Additions starting in year
Life-insurance premiums are forecast to grow at a 13 percent CAGR as 10 and every five years thereafter, plus
younger consumers purchase protection and long-term savings plans, while a Maturity Booster at term end. Chief
health and small-ticket covers are expected to surge on heightened post- Marketing Officer Rishi Mathur said
pandemic awareness. To unlock this potential, the study urges insurers to SecureInvest was crafted "to grow, to
invest in data analytics, launch ESG-linked products, and close India's
protect, and to leave a legacy,"
estimated 91 percent protection gap, especially in rural and MSME supporting customers through every
segments.
life stage.
16 August 2025 The Insurance Times