Pramerica Life delivers third straight year of double-digit growth; Expands insurance reach across India
Gurugram, Haryana, India: Pramerica Life Insurance announced financial results for the year ended March 31, 2026, marking its third year of double-digit growth. The milestone reflects not only the consistency of the company’s financial trajectory but the depth of its reach – across geographies, communities, and customer segments that require a more deliberate and sustained commitment to serve well.
Last financial year, the company reported 19% year-on-year growth in New Business Premium (NBP), while Annualised Premium Equivalent (APE) grew 29% year-on-year, driven by healthy momentum across distribution channels. A Claims Paid Ratio of 99.29%, rising for three successive years, indicates towards the sound quality of the business.
The company also delivered strong growth in Retail New Business Premium, reflecting the continued expansion of its retail network into customer segments where the need for financial protection is high but availability has not always kept pace with that need. Notably, this growth was achieved with an average ticket size approximately 42% lower than the industry median – a measure of how deliberately the company has built its distribution to serve customers at varied income levels, not just at the higher end of the market.
Performance Snapshot for FY26:
- Total New Business Premium of Rs 1,471 crore, registering a 19% Y-o-Y growth
- Individual New Business Premium grew 30% year-on-year, 2.5x faster than the overall private industry
- A strong 3-year CAGR of 28% in Total New Business Premium, reflecting one of the most consistent growth trajectories among private life insurers in India
- Embedded Value grew 15% year-on-year
- 99.29% claims paid ratio, up from 99.18% last year
The company also continued to deepen its protection footprint, covering over 8.7 Cr+ lives including over 3.5 lakh defence personnel since inception. In line with its long-standing focus on developing solutions for insurance buyers with distinct protection needs, Pramerica Life was the first life insurer to develop specialised protection offerings designed around the service conditions and requirements of armed forces and paramilitary personnel, forging a deep and enduring association with these communities.
Over the years, this relationship has evolved beyond customer outreach into a wider people philosophy, with the company continuing to create meaningful second-career opportunities for veterans and ex-servicemen. Since inception, over 8,500 veterans have been employed by the company, with ex-servicemen today constituting nearly 17% of its employee base.
Pankaj Gupta, MD & CEO, Pramerica Life Insurance, said, “We are focused on building a business anchored in steady progression – and our third consecutive year of double-digit growth is a reflection of that intent. This record has been driven by a well-balanced mix of distribution channels, a sharp focus on the customer, a product approach built around genuine relevance and a strong risk management framework.
As we grow, our priority is to scale responsibly while staying grounded in what matters most to our customers: reliability and a strong claims experience. Looking ahead, we remain committed to expanding access to life insurance through wider market presence and delivering solutions that align with the evolving needs of new-age India, all while building a business that creates lasting value not just economically, but also through broader financial inclusion and community impact.”
The growth momentum in FY26 was bolstered by a diversified strategy, with strong contributions across both proprietary and newly seeded channels. These channels serve a wide spectrum of customers across geographies, income profiles, professions and life stages, enabling more inclusive insurance penetration across the country.
This commitment to serving a diverse set of customers has also shaped the way Pramerica Life thinks about its products, making accessibility and relevance in product design an extension of its customer-first philosophy. On the non-participating side, the company offers some of the most competitive propositions in the industry – products designed to deliver certainty in an uncertain market environment, which have found strong resonance with customers seeking reliable, long-term financial protection. In the market-linked segment, the company has been at the forefront of product innovation, with offerings such as Smart Invest 1Up – an industry-first ULIP proposition – reflecting Pramerica Life’s commitment to designing products that are differentiated in design and relevant to the evolving needs of today’s India.
This thinking extends to the company’s expanding fund portfolio as well. Recognising the growing investor appetite for India’s long-term growth story, particularly in the midcap segment, Pramerica Life introduced the Nifty Midcap 50 Correlation Fund and the Rising Bharat Fund as part of its market-linked offerings last financial year. Both funds have delivered strong performance relative to broader market benchmarks, reinforcing the company’s focus on identifying high-potential investment themes early and translating them into relevant customer propositions.
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