Insurance Sector in India
Insurance Market & India: India is the fifth largest life insurance market in the world's emerging insurance markets, growing at a rate of 32-34% each year.
Composition: As of December 2021, the insurance industry of India has 57 insurance companies - 24 are in the life insurance business, while 34 are non-life insurers.
Insurance Penetration: India’s insurance penetration was pegged at 4.2% in FY21, with life insurance penetration at 3.2% and non-life insurance penetration at 1.0%.
- In terms of insurance density, India’s overall density stood at US$ 78 in FY21.
Private Sector Share: The market share of private sector companies in the general and ....
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