Life insurance will grow by at least 13%, by 2015

Indian life insurance is likely to grow by 13 to 14% in terms of written premiums by 2015. Life premiums are poised to attain 5.5 trillion INR (107 billion USD), that is, 10% of the overall market turnover. The Indian life market will, nonetheless, remain a market where insurance policies will be mostly associated to financial income. Very few products will promote long-term saving and individual cover. Among all Asian countries, Indian life insurance remains the least profitable for shareholders: profit margins are of 18% against 30% to 60% in China, Singapore, Malaysia or Thailand.