Growth in Insurance Sector.

Press Information Bureau
Government of India
Ministry of Finance

26-August-2011 17:25 IST

Growth in Insurance Sector

  The annual average growth of life insurance industry in terms of total insurance premium is 17.18% for the period 2007-08 to 2010-11.The annual average growth of general insurance industry in terms of Gross Direct Premium is 15.92% for the period 2007-08 to 2010-11.

  The growth in insurance sector is internationally measured in terms of insurance penetration (percentage of insurance premium to Gross Domestic Product) and insurance density (per capita premium determined in US$) of Indian insurance industry.  The details are as under:

                               Insurance Penetration (Premium as % of GDP)

                             Insurance Density (Premium per capita in INR)

  Note:  Insurance density is converted to INR(1 US$ = 45.7695 INR).

  Source:  IRDA

This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question raised in Lok Sabha today.

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