India's insurance sector FDI increased to 74% over 9 years, attracting Rs 54,000 crore, while insurance penetration and density rose, and AUM and premium doubled.
Over the past 9 years, India's insurance sector attracted approximately Rs 54,000 crore in FDI, with FDI limits raised from 26% in 2014 to 74% in 2021. Insurance penetration increased from 3.9% in 2013-14 to 4% in 2022-23, and insurance density rose from US$52 in 2013-14 to US$92 in 2022-23. The sector's AUM nearly tripled to Rs 60.04 lakh crore, and total insurance premium doubled to Rs 10.4 lakh crore.
March 18, 2024
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