According to analysts at Global Data, India’s life insurance industry is expected to grow at a compound twelve-monthly growth rate (CAGR) of 10.3% through 2026, driven by increasing awareness and a favourable regulatory landscape.
India-life-insurance-market-growth-2017-2026It is forecasted to grow from $92.3 billion in 2021 to $150.6 billion in 2026 regarding gross written premiums.
In 2022, according to Anjuli Shrivastava, Insurance Analyst at Global Data, the life span insurance industry is set to grow by 10.2%, driven by the development of digital distribution channels and product innovation.
Shrivastava commented: “The life insurance industry in India is witnessing a substantial post-pandemic growth, supported by growing awareness, increasing demand for group policies, and a favourable regulatory environment.”
Source-
https://www.reinsurancene.ws/indias-life-insurance-industry-to-reach-150-6bn-by-2026-globaldata/