Life insurance premium to cross $100 billion, says Swiss Re

According to a Swiss Re report, Life Insurance premium is set to cross the $100 billion mark in India. The Indian life insurance business will present resilience and develop at a distinctive charge of 6.6% (in actual phrases) in 2022 and additional develop at 7.1% in 2023. Though the worldwide life insurance premiums development will nearly flat this 12 months and develop by 1.9% in actual phrases in 2023

The non-life insurance market in India grew 5.8% (in actual phrases) in 2021 after a slight contraction in 2020. The development is predicted to decelerate barely in 2022 to 4.5%, primarily due to excessive inflation.

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