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Growth in Insurance Sector. |
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| 26-8-2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
Press Information Bureau 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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