India’s ranking in world insurance market drops four places

India’s ranking in the world insurance market has dropped four places from number 11 in 2010 to number 15 in 2011 because of a sharp drop in life insurance business in 2011-12. As a result of a drop in life insurance premium, India’s share of the world insurance market has declined to 1.58% in 2011 from 1.8% in 2010.

India has been displaced by countries like Brazil, Spain and Taiwan which now rank higher than India.

Mayur Shetty, TNN 
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