India Insurance Sector Report 2024-2025 Data up to FY2023

The Indian insurance sector is critical to the nation's financial system, offering financial protection to individuals and enterprises. It includes life and non-life insurance segments, each of which contributes to India's economic stability and development. The Oriental Life Insurance Company was established in Kolkata in 1818, marking the formal inception of the Indian life insurance industry. Since then, the insurance sector in India has experienced substantial changes. The Insurance Regulatory and Development Authority of India (IRDAI) regulates the industry, including the supervision of insurance companies, the preservation of market stability, and the protection of customers. Life insurance, general insurance (non-life insurance), and reinsurance companies constitute the insurance sector in India. As of March 31, 2023, India had 69 insurers, 25 of which were life insurers and 44 were general insurance companies (including reinsurers and foreign reinsurers' branches).

This report provides a complete and detailed analysis of the "Banking and insurance" sector for India. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.

What this report allows you to do:

• Understand the key elements at play in the "Banking and insurance" sector in India
• Crystallise the forces both driving and restraining this sector in India
• Ascertain India’s position in the global sector
• Build a complete perspective on sector trade, investment and employment
• Understand the competitive landscape and who the major players are
• View M&A activity and major deals
• Gain an understanding of the regulatory environment for the sector in India.
• Build a clear picture of trends, output and consumption for specific sub-sectors