In financial year 2022, Indian life insurance companies made 40.1 billion U.S. dollars with new business premiums and 49.2 billion U.S. dollars with renewal premiums. The life insurance market is characterized by a steady growth in new business premiums as well as in renewal premiums, however a larger proportion of revenue is gained through ongoing renewals.
Life insurances premiums written by Indian insurers 2016 to 2022, by premium type
(in billion U.S. dollars)
Characteristic
New business premium
Renewal premium
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India Brand Equity Foundation. (November 6, 2023). Life insurances premiums written by Indian insurers 2016 to 2022, by premium type (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/1196585/india-new-and-renewed-life-insurance-premiums/
India Brand Equity Foundation. "Life insurances premiums written by Indian insurers 2016 to 2022, by premium type (in billion U.S. dollars)." Chart. November 6, 2023. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/1196585/india-new-and-renewed-life-insurance-premiums/
India Brand Equity Foundation. (2023). Life insurances premiums written by Indian insurers 2016 to 2022, by premium type (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/1196585/india-new-and-renewed-life-insurance-premiums/
India Brand Equity Foundation. "Life Insurances Premiums Written by Indian Insurers 2016 to 2022, by Premium Type (in Billion U.S. Dollars)." Statista, Statista Inc., 6 Nov 2023, https://www.statista.com/statistics/1196585/india-new-and-renewed-life-insurance-premiums/
India Brand Equity Foundation, Life insurances premiums written by Indian insurers 2016 to 2022, by premium type (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1196585/india-new-and-renewed-life-insurance-premiums/ (last visited August 25, 2024)
Life insurances premiums written by Indian insurers 2016 to 2022, by premium type (in billion U.S. dollars) [Graph], India Brand Equity Foundation, November 6, 2023. [Online]. Available: https://www.statista.com/statistics/1196585/india-new-and-renewed-life-insurance-premiums/