India Insurance Sector Report 2024-2025

The Indian insurance sector is a vital component of the country's financial system, providing financial protection to individuals and businesses. It comprises both life and non-life insurance segments, each contributing to the economic stability and growth of India. The Indian life insurance industry formally began with the establishment of the Oriental Life Insurance Company in 1818 in Kolkata and since them, the insurance sector in India has undergone significant transformation over the years. The sector is regulated by the Insurance Regulatory and Development Authority of India (IRDAI), which oversees the functioning of insurance companies, ensures customer protection, and maintains market stability. The insurance sector in India comprises life insurance, general insurance (non-life insurance), and reinsurance companies. At the end of March 2022, there were 67 insurers operating in India; of which 24 are life insurers and 43 general insurance companies (including including reinsurers and foreign reinsurers' branches).

This report provides a complete and detailed analysis of the "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 "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