India’s economy continued to expand, with GDP growth reaching 11.96% (at current price) in FY 2024-25.
This growth was driven by factors such as strong domestic consumption, robust government infrastructure and vibrant industrial sector.
The Indian general insurance industry also experienced significant growth, with premium income increasing
by 6.20% year-over-year. Over the past decade, the industry has seen a compound annual growth rate (CAGR)
of 13.76%. .
Insurance penetration in India increased slightly from 0.98% in FY 2023-24 to 0.93% in FY 2024-25.
Insurance density has almost tripled over the past decade, reflecting a surge in consumer demand for
insurance products
Overall, India’s economy and insurance sector have both demonstrated growth trends in recent years.
This is a positive sign for the country’s long-term economic development and financial stability.
