Insurance

India's life insurance segment collected new business premiums worth Rs 11,742.7 crore (US$ 1.84 billion) for April–May 2013.

Insurance Sector in India

Latest update: November, 2013

Growth

Over FY03–FY12, life insurance premiums expanded at a compound annual growth rate (CAGR) of 20.1 per cent.

Growth

Market Share

LIC is the market leader, with 70.7 per cent share in FY12.

Market Share

Growth

Over FY03–FY12, total gross written premiums increased at a CAGR of 19.6 per cent.

Growth

Penetration

Motor insurance forms the largest non-life segment, with 43.1 per cent share in FY13.

Penetration

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Last Updated: March 19, 2014

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Updated: November, 2013

SECTORAL REPORT | March, 2014

Brief Introduction

The future of the Indian insurance sector looks bright. The sector which stood at a strong US$ 72 billion in 2012 has the potential to grow to US$ 280 billion by 2020. This growth is driven by India’s favourable regulatory environment which guarantees stability and fair play. This environment has given rise to an insurance market which encourages foreign investors to tap into the sector’s massive potential.

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