Business Today – August 25, 2019

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/