Et 22 Dec 2006 page 14
The share of insurance premium in GDP has risen to 3.13% in India in 2005 and the global average during that period is 7.52%. This means that India's share in world insurance premium is 0.73%.
In another news report it is mentioned that India's market share in world life insurance market will increase from 0.9% in 2004 to 14.7% in 2050. Similarly, its share in property and casualty insurance market will rise from 0.3% in 2004 to 13.3% in 2050. The share of US and Japan will come down during that period. That is why many insurance companies want to open companies in India. These estimates are credited to HSBC and Swiss Re Economic Research and consulting.
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