Daniel Slotta
Research expert covering Greater China
Life insurance industry in India - statistics & facts
Modern life insurance came to India in the year 1818 from England with the establishment of Oriental Life Insurance Company in Calcutta. Life insurance is among the most common type of insurance in India, with substantial growth over the years, valued close to 100 billion U.S. dollars in terms of written premiums, reflecting the sector’s significant scale and impact. Despite facing geopolitical and financial challenges, the life insurance market is anticipated to maintain its rapid growth until 2028, further solidifying the prominence of life insurance in India’s financial landscape. This growth is driven by a range of factors including an increased awareness of life insurance post-pandemic, a growth in disposable income, and government initiatives promoting life insurance.
