Density of life and non-life insurance in India FY 2002-2023

Published by Sandhya Keelery, Aug 30, 2024
In financial year 2023, the life insurance density in India amounted to about 70 U.S. dollars, while the non-life insurance density was at 22 U.S. dollars. Insurance density is measured as insurance premium (in U.S. dollars) to total population.
Similar to the insurance penetration in India, the density also surged until fiscal year 2010, after which it saw a gradual decline. The numbers inched back up around fiscal year 2017 indicating a resurgence in the country's insurance density.

Density of life and non-life insurance across India from financial year 2002 to 2023 (premium per capita in U.S dollars)

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Release date

December 2023

Region

India

Survey time period

FY 2002 to FY 2023

Supplementary notes

Insurance density is measured as ratio of premium (in U.S. dollars) to total population.

One Indian rupee is equal to 0.012 U.S. dollars and 0.011 euros (as of February 2023).

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