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India’s insurance sector witnessed major changes in August 2025. While there was a decrease in new business in the entire sector, private insurance companies surprised everyone by performing brilliantly. SBI Life, HDFC Life and ICICI Prudential have given a tough competition to LIC by making their mark in the market.

LIC’s difficulties increased

The month of August was disappointing for the country’s largest life insurance company LIC. Compared to last year, the company’s first year premium fell by 17% to about ₹ 16,023 crore. This figure clearly suggests that customers are now moving towards new and attractive options leaving the old trust.

Private companies won

While LIC’s glow faded, private insurance companies strengthened their grip in the market.

• SBI Life Gained a great gain of 22.8% with a premium of ₹ 3,321 crore, which is the biggest bounce of this season.
• Hdfc life Also won the confidence of customers and gained 9.5% with a premium of ₹ 3,064 crore.
• Icici prudential Showing a rise of 17.7%, touched a new figure of ₹ 1,776 crore.
  Together these three companies earned a total premium of ₹ 14,936 crore, which shows an annual increase of 12% in the private segment.

Customers’ new choice: choice and feature

It is now clear in the insurance industry that customers are not just relying on the name of the big brand. They are now giving more importance to the diversity, digital services and sharp claim processing of the product. New strategies from private companies such as easy policy options, mobile apps and immediate response are pulling customers towards them.

New war starts in market

There was a time when LIC dominated the market, but now the situation is changing. Private insurance companies are not only increasing their stake, but also winning the hearts of customers. The August 2025 figures present a strong picture of this change.