India’s GDP (Current Prices) growth rate is once again increased almost 20% with respect to previous year after the decline in growth rate in the previous year.
The Indian General Insurance Industry in FY 2021-22 has continued its robust upward trend, achieving a 11.06% Year-on-Year growth with respect to Premium Income in India for 2020-21, and an 13.76% CAGR over a 10 Year Period.
Insurance Density has almost increased three-fold over a 10-year period, showcasing the increased consumer demand for products from the Insurance sector.
The Industry has saw a decrease in its penetration figures, going from 1.01% in FY 2020-21 to 0.93% in FY 2021-22.
