Kolkata, May 28 -- Indian insurance market showed strong growth in 2024, expanding by 10.6 percent surpassing the already significant growth of the previous year (7.7 pc), according to Allianz Global Insurance Report 2025 on Rising demand for protection.
Total premium income reached USD 145 billion by the end of last year, the report said on Tuesday.All segments are expected to have contributed to this positive development, with health insurance - still the smallest segment - powering ahead with record growth of 20.8 pc. Life insurance, by far the largest segment accounting or almost three-quarters of all premiums, also achieved double-digit growth of 10.6 pc after 7.7 pc in 2023.
Finally, the P&C business slowed slightly, falling from 8...