hdfc lifeGeneral Insurance Industry has Witnessed Strong Growth Over the last 15 Years
General Insurance Gross Premium has grown >10x over the last 15 years
Growth of 5.2% over FY20
India is the 4th largest non-life insurance market in Asia and 15th largest globally
Premium as a % GDP for India is 094% and for U.S is 8.51% and for China is 2.1%. Premium per capital for India stands at $19 whereas for U.S its $5580 and for China its $201. So the scope for growth is very high.
▪ Operates under a “cash before cover” model
▪ Density & Penetration low in India compared to other countries
▪ Increase in penetration can happen with growth of personal lines, product enrichment, catering to rural masses, innovative
selling and bright long term outlook for growth
▪ Every 0.25% increase in penetration can increase industry GWP by Rs.350 Bn
Motor & Retail Health are the Largest GI Segment and Continue to Grow at Steady Pace
