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Premiums Growing at A Brisk Pace
Premiums Growing at A Brisk Pace
The total insurance market expanded from USD23 billion in FY05 to USD68.88
billion in FY16
Over FY05–FY16, total gross written premiums increased at a CAGR of 10.49 percent
Gross premium written in India for non life insurance sector for FY16 is USD14.33
billion and in FY16, the gross premium written in India for life insurance sector stood
at USD54.58 billion
In November 2016, the total growth in life insurance premium was around USD 2.38
113 per cent. Similarly during the same period, the individual single premium grew
by USD 995 million as compared to USD 164.06 million in 2015, recorded a growth
Over the years, share of private sector in life insurance segment has grown