Indian non-life insurance market: financial year 2021-2022 results
During the financial year 2021-2022, Indian non-life insurers have recorded an 11.07% increase in their overall turnover to 2 207 billion INR (29.176 billion USD).
The premium volume by class of business is broken down as follows:
Figures in millions| Class of business | 2021-2022 | 2020-2021 | Evolution | Market shares | ||
|---|---|---|---|---|---|---|
| INR | USD | INR | USD | |||
| Health | 805 020 | 10 642 | 637 530 | 8 689 | 26.3% | 36.5% |
| Motor | 704 340 | 9 311 | 677 920 | 9 240 | 4% | 31.9% |
| Fire | 215 510 | 2 849 | 201 130 | 2 741 | 7.1% | 9.8% |
| Marine | 41 680 | 551 | 34 880 | 475 | 19.5% | 1.9% |
| Other risks | 440 460 | 5 823 | 435 690 | 5 938 | 1.09% | 19.9% |
| Total non-life | 2 207 010 | 29 176 | 1 987 150 | 27 083 | 11.07% | 100% |
As at 31 March 2022, the Indian market included 31 non-life insurance companies, with four public, 20 private, five health and two specialty insurers.
Exchange rate as at 31 March 2022: 1 INR = 0.01322 USD; as at 31 March 2021 1 INR = 0.01363 USD
Read also | Insurance companies in India
