In financial year 2023, the life insurance density in India amounted to about 70 U.S. dollars, while the non-life insurance density was at 22 U.S. dollars. Insurance density is measured as insurance premium (in U.S. dollars) to total population.
Similar to the insurance penetration in India, the density also surged until fiscal year 2010, after which it saw a gradual decline. The numbers inched back up around fiscal year 2017 indicating a resurgence in the country's insurance density.
Density of life and non-life insurance across India from financial year 2002 to 2023
(premium per capita in U.S dollars)
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IRDA (India). (December 26, 2023). Density of life and non-life insurance across India from financial year 2002 to 2023 (premium per capita in U.S dollars) [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/655408/life-and-non-life-insurance-density-india/
IRDA (India). "Density of life and non-life insurance across India from financial year 2002 to 2023 (premium per capita in U.S dollars)." Chart. December 26, 2023. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/655408/life-and-non-life-insurance-density-india/
IRDA (India). (2023). Density of life and non-life insurance across India from financial year 2002 to 2023 (premium per capita in U.S dollars). Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/655408/life-and-non-life-insurance-density-india/
IRDA (India). "Density of Life and Non-life Insurance across India from Financial Year 2002 to 2023 (Premium per Capita in U.S Dollars)." Statista, Statista Inc., 26 Dec 2023, https://www-statista-com.ezproxy.canberra.edu.au/statistics/655408/life-and-non-life-insurance-density-india/
IRDA (India), Density of life and non-life insurance across India from financial year 2002 to 2023 (premium per capita in U.S dollars) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/655408/life-and-non-life-insurance-density-india/ (last visited November 10, 2024)
Density of life and non-life insurance across India from financial year 2002 to 2023 (premium per capita in U.S dollars) [Graph], IRDA (India), December 26, 2023. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/655408/life-and-non-life-insurance-density-india/
