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September 4, 2026
NSE gets regulatory nod for Rs 30,000 cr IPO, the biggest so far
Show AI Summary
Offer-for-sale IPO clearance enables existing exchange shareholders to monetise holdings, while sale proceeds remain outside the exchange.
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Growth in Insurance Sector.

August 26, 2011

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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)

Year

Total Business

Life

Non Life

2005

3.14

2.53

0.61

2006

4.80

4.10

0.60

2007

4.70

4.00

0.60

2008

4.60

4.00

0.60

2009

5.39

4.73

0.66

                             Insurance Density (Premium per capita in INR)

Year

Total Business

Life

Non Life

2005

1039

838

201

2006

1758

1520

238

2007

2133

1849

284

2008

2169

1886

284

2009

2485

2183

302

      

  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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