Source: Irda, IBEF, PwC
Premium as % of
GDP – 2018/
PUBLIC
SERVICE
The net incurred
claim ratio has
increased for
public sector
insurers FY
Claim Ratio (%)
FY16 FY17 FY18 FY
82
90
101
95
98
80
78
(^7674)
72
PSU
Private
OUT OF REACH
Insurance penetration is still low in India
9.
%
Growth in
premiums
underwritten by
life insurers, to
4,58,809 crore in 2017/18 from
4,18,477 crore
in 2016/
28.
MILLION
Number of new
policies issued in
life insurance in
2018; LIC had a
dominant share of
75.5 per cent
- Russia
Singapore
Malaysia
Thailand
Vietnam
Japan
UK
Indonesia
Australia
US
Brazil
China
Sri Lanka
India