LIC vs private life insurers: Who saw faster premium growth in September 2026? What policy buyers should know

LIC outpaced private insurers in individual life insurance premium growth in September 2026, but private players grew faster in total new business premiums. HDFC Life and ICICI Prudential Life stood out. What do these trends mean for policy buyers?

If you are planning to buy a life insurance policy, the latest premium data shows that LIC recorded faster growth in premiums from individual policies than private insurers in September 2026.

According to a Morning India report by Motilal Oswal Financial Services, LIC recorded around 15% year-on-year (YoY) growth in individual weighted received premium (WRP), compared with around 7% for private insurers.

However, private insurers continued to record strong growth in new business premiums, with HDFC Life and ICICI Prudential Life Insurance among the fastest-growing players in this segment.

How much did LIC and private insurers collect?

According to the report, the life insurance industry's individual WRP grew around 9% YoY in September 2026, following mid-teen growth in August.

Individual WRP measures premiums received from individual policies. Its growth indicates which insurer is expanding in this segment.

LIC's individual WRP grew around 15% YoY, while private insurers on average recorded around 7% growth in September 2026.

Private insurers accounted for 73.4% of individual WRP in September, down from 74.7% a year earlier but up from 72.3% in August 2026. LIC's share stood at 26.6%.

Which private insurers recorded the highest premium growth?

HDFC Life led listed private insurers in individual WRP growth, at 24% YoY in September 2026. Canara HSBC Life grew 10%, Max Life 4% and ICICI Prudential Life 1%. However, SBI Life and Bajaj Life recorded declines of 2% and 7%, respectively.