The market share of standalone health insurance companies rose to 13.6 per cent in the financial year 2025-26 (FY26) from 12.5 per cent in the previous fiscal. The increase resulted from higher health insurance premiums and policy sales following the rationalisation of the Goods & Services Tax (GST) for the retail health insurance sector.
In September 2025, the central government reduced GST rates in retail health insurance policies to zero from 18 per cent. General insurers saw market share slip to 82.9 per cent in FY26 from 83.9 per cent in FY25. In the general insurance sector, state-owned general insurance companies’ market share slipped to 36.86 per cent from 36.87 per cent in FY25, while that of private sector general insurers rose marginally to 63.14 per cent from 63.13 per cent.
First Published: Apr 10 2026 | 5:07 PM IST