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India's insurance industry is expected to reach US$ 280 billion by 2020.

Insurance Industry Market Growth in India - Infographic

Latest update: July, 2018

Growth
  • Over the years, share of private sector in life insurance segment has grown from around 2 per cent in FY03 to 29.69 per cent in FY18*.

Notes: Figures are as per latest data available, E- estimated, based on first year premium collection, * up to February 2018
Source: IRDA, Aranca Research

  • As of February 2018, life insurance sector had 23 private players in comparison to only 4 in FY02.
  • With 70.31 per cent share market share in FY18*, LIC continues to be the market leader, followed by HDFC Standard Life at 5.65 per cent.
Growth

Notes: * up to February 2018
Source: Aranca Research, IRDA

Insurance India

Market share of major companies in terms of Gross Direct Premium collected (FY15)
Life Insurance Density in India
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