NEW DELHI: India's insurance market is projected to be the G20's fastest-growing economy over the next five years, with total premium volumes (life and non-life) up 7.3 per cent in real terms on average each year aided by macroeconomic stability and the conducive regulatory environment, a report said on Tuesday.
Life insurance, the mainstay of India's insurance market, accounts for 74 per cent of total premium volumes, according to a Swiss Re report on the insurance market outlook for India.
Life premiums are estimated to grow by 4.8 per cent in 2024 in real terms and by 5 per cent in 2025 (2025-29: 6.9 per cent), following a meagre 0.7 per cent growth in 2023, when the savings segment was adversely impacted by regulatory and taxation changes, it said.
This story is from the Kolkata 15January2025 edition of Millennium Post Kolkata.
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This story is from the Kolkata 15January2025 edition of Millennium Post Kolkata.
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