Dun & Bradstreet India’s Leading BFSI Companies 2017

Insurance Penetration (%)

19

10 12 14 16 18 20

14.8 14.7

11.4

10.8 10

9.2 9.3

7.3 7.3

0 2 4 6 8

6.2 5.7 5.5 5.1

3.9 3.4 3.6

1.4 1.2 0.8

Source: IRDA Annual Report 2015-16

In terms of total premiums, public sector insurers continue to dominate the Indian insurance industry As of at the end March 2016, there were 54 insurers operating in India. Of these, there are 24 life insurers, 24 are general insurers, 5 are health insurers, and 1 is reinsurer. Of the 24 life insurers, 23 companies are in the private sector, while one is the public sector company. Of the 24 non-life insurers, 18 companies are in the private sector while 6 companies are in the public sector.

Registered Players in the Indian Insurance Industry Type of Insurer Public Sector Private Sector

Total

Life

1 6 0 1 8

23 18

24 24

General Health

5 0

5 1

Reinsurance

Total

46

54

Source: IRDA Annual Report 2015-16

The total premiums of all the registered insurers stood at ` 463,323.2 bn in 2015, registering a growth of 12.2% over the previous year. Public sector insurance companies continued to dominate the Indian insurance space. In terms of total premium income of the insurance companies, the total premiums of the public sector companies stood at ` 318,977.2 Cr in 2015, growing at a pace of 11.4% as compared to the previous year. On the contrary, the total premiums of private sector insurers stood at ` 144,346 Cr in 2016, registering a growth of 14.1%.

Total Premiums of Indian Insurance Sector in FY16

Life Premiums Growth

Non-life Premium ( ` bn)

Non-life Premiums Growth

Total Premiums ( ` bn)

Total Premium Growth

Type of Institution Life Premium ( ` bn)

Public Private

2,664.4 1,005.0 3,669.4

11.2% 13.6% 11.8%

525.3 438.5 963.8

12.6% 15.3% 13.8%

3,189.8 1,443.5 4,633.2

11.4% 14.1% 12.2%

Total

Source: IRDA Annual Report 2015-16

LVI

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