The Oriental Insurance Company Ltd (OICL) has crossed ₹20,000 crore in gross premium for FY 2025–2026, marking a significant milestone in its growth journey. This achievement reflects the growing trust of policyholders, intermediaries, and stakeholders, not only in OICL but also in public sector insurance institutions at large.
The milestone aligns with the government’s broader objective of promoting financial inclusion under the vision of Insurance for All by 2047, aimed at ensuring wider access to risk protection mechanisms across the country.
Growth Driven by Diverse Insurance Portfolio
The company’s growth has been supported by strong contributions from key segments, including group personal accident (GPA), health, fire, and motor insurance. These segments have played a pivotal role in strengthening OICL’s overall premium base.
Focus on Innovation and New-Age Products
In recent years, OICL has enhanced its product portfolio with innovative offerings such as Oriental Sampoorna Swasthya Suraksha, drone insurance, event insurance, and customs duty insurance.
The insurer is also preparing to launch forward-looking solutions, including the Sarvatra Suraksha Parametric Insurance Policy, nil depreciation comprehensive policies (including long-term variants), and surety bond insurance. These initiatives are aligned with evolving risk landscapes and national priorities.
Motor Insurance Remains Key Growth Driver
The motor insurance segment continues to be the cornerstone of OICL’s growth and the largest contributor to its portfolio. Within this segment private car insurance led with over 14.5 lakh policies and a premium of ₹869 crore, two-wheeler insurance followed with 15.5 lakh policies and a premium of ₹143 crore and goods carrying commercial vehicles (GCCV) accounted for 4.82 lakh policies and a premium of ₹1,725 crore
These figures highlight OICL’s strong presence in the retail as well as commercial vehicle segments.
Recognition of Employee Efforts
The Department has applauded the efforts of OICL employees for their commitment to operational excellence and high standards of customer service, which have been instrumental in achieving this milestone.
Government Reaffirms Support
The government has reiterated its continued support to public sector insurance companies in their efforts to expand outreach, adopt innovative practices, and strengthen service delivery for the overall benefit of the nation.