Irdai Report 2024–25: Growth In Savings, Health, And Digital Adoption

The Insurance Regulatory Development Authority of India (Irdai) annual report 2024-25 presents some interesting insights into the growth of the insurance industry in India. This is despite the International Monetary Fund (IMF), in its April 2025 issue of World Economic Outlook Update, pointing out that downside risks have intensified amid rising policy uncertainty and structural shifts in the global trade environment.

We take a look at five key numbers.

A Foundation Of Growing Investments

By March 2025, the insurance industry’s total investment portfolio reached Rs 74,43,516 crore, marking a growth of 10.14 per cent. Life insurers managed 91.07 per cent of these total assets. The pool of capital, when systematically regulated, ensures that when policyholders make a claim, there are funds to fulfill the required protection promise.

Professional Guidance At Scale

Insurance is not a one-size-fits-all product and requires a human touch. The report highlights a significant growth of the individual insurance agents by 7.87 per cent, bringing the total to 31.23 lakh professionals across the country. While the private life insurers recorded a growth of 10.53 per cent, public sector insurers recorded a growth of 5.10 per cent.

Furthermore, the network is supported by 27,18,487 Point of Sales Persons (POSPs). This ensures that expert advice and support are accessible even in remote areas.

The Digital Personal Finance Revolution

Insurance is increasingly becoming digital. A major milestone was reached this year with the creation of 50.59 lakh new Electronic Insurance Accounts (eIAs). This has brought the cumulative total to 2.03 crore accounts. With these digital lockers policholders can manage all their policies in one place. This streamlines claims and also ensures that vital documents are never lost.

Prioritizing Health Protection

Health insurance is no longer a luxury but a financial necessity. The report reveals that total health insurance premiums grew by 9.12 per cent, reaching Rs 1,17,504.82 crore. This means that more people are now covered under health insurance.

Unwavering Strategic Safety Reserves

For a policyholder, the ultimate reassurance lies in an insurer’s solvency—the ability to meet long-term liabilities. Most insurers maintain a solvency margin well above the mandatory 150 per cent requirement. This means that the insurers are financially resilient and are in a position to handle unforeseen economic shocks.