India

Life insurance is the market leading class of business with 73.018 billion USD in premiums recorded at the end of March 2019. During the 2014-2018 period, life premiums increased by 39.5%. However, this sector is seeing a decline in its market share. From 84.45% in 2012, this percentage decreased to 79.48% in 2015 and to 74.99% as of March 31, 2019.

Indian insurance dates back to the days of ancient India legislation. It was then designed to pool national resources in order to deal with the occurrence of calamities such as fires, floods, famines and epidemics. The first traces of insurance were found in the form of maritime loans and carrier contracts.