India's Reinsurance Market Soars 11% to Rs 1.12 Lakh Crore in FY25

• India's reinsurance market grew 11% to Rs 1.12 lakh crore in FY25, up from Rs 1.00859 crore in FY24, as per IRDAI.
• The overall market includes business from Indian reinsurers, Foreign Reinsurers’ Branches (FRBs), outside reinsurers, IFSC Insurance Offices (IIOs), and ceded premiums.
• Public sector reinsurer GIC Re maintained leadership with 52.43% of domestic reinsurance business; FRBs covered 47.57%.
• Jio Insurance Broking and global major Alliance formed the largest reinsurance deal in India for FY25.
• Growth is driven by increased primary insurance penetration, risk mitigation awareness, and insurers strengthening balance sheets.

Why It Matters: India's reinsurance market saw significant 11% growth in FY25, driven by increased penetration and strategic deals.