National premium income increased to 14.70% with respect to the previous year 2021-22.
The top 5 States account for more than ₹ 1,40,000 Cr. of premium income in FY 2022-23, representing over half of the total premium income of the country.
Among the states ranked top 10 according to the amount of premium earned, states with most significant increase in premium income with respect to the previous year are, Tamil Nadu (31%), Telangana (29%) Karnataka (22%), Haryana (20%) and, Maharashtra (16%).
13 States/Union Territories account for more than ₹ 5,000 Cr. of premium income in FY 2022-23.
The number of Insurance offices increased from 2013-14 till 2018-19, after that the growth plateaued, and FY 2022-23 witnessed an overall drop of approximately 8%.
