Business Today – August 25, 2019

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

1. Russia


2. 
   

   Singapore

   
   


3. 
   

   Malaysia

   
   


4. 
   

   Thailand

   
   


5. 
   

   Vietnam

   
   


6. 
   

   Japan

   
   


7. 
   

   UK

   
   


8. 
   

   Indonesia

   
   


9. 
   

   Australia

   
   


10. 
    

    US

    
    


11. 
    

    Brazil

    
    


12. 
    

    China

    
    


13. 
    

    Sri Lanka

    
    


14. 
    

    India