Graphic by NILANJAN DAS & TANMOY CHAKRABORTY
Research by SHIVANI SHARMA
With one of the lowest penetration rates in the
world, India’s insurance sector faces an uphill
task in tapping a huge underserved market.
GRAPHITI
THE BUZZ
STAYING
AFLOAT
The sector has
been growing
in double digits
despite a slowing
economy
FY14 FY
(in %)
FY16 FY17 FY18 FY
10
18
7.
8 8.
7.
6.
DRIVING
GROWTH
Motor business is the largest
general insurance segment
39 %
Motor
22 %
Miscellaneous
(includes crop
insurance)
25 %
Health
7 %
Fire
3 %
Personal
Account
2 %
Marine
1 %
Liability
1 %
Engineering
Year
2018/
GDP Growth
Insurance
Industry Growth
`
553
THOUSAND CRORE
Gross premiums
written in 2017/18;
the share of
life insurance
was 82.8 per cent
`
6,
CRORE
Profits of general
and health insurers
in India in 2017/
compared to ` 845
crore in 2016/