Indian Statistics
| Growth in LIC's Policies | |
| Year | No of Policies, in millions | Sum assured, in Rs. crore | | 69-70 | 14.0 | 6348.1 | | 74-75 | 18.8 | 11852.2 | | 79-80 | 22.1 | 19242.6 | | 89-90 | 40.4 | 94823.2 | | 95-96 | 71.0 | 295758.0 | | 96-97 | 77.8 | 344619.3 | | 97-98 | 85.0 | 400747.9 | | 98-99 | 91.7 | 459201.04 |
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| Growth in India's Life Funds |
| Year | Figures, in Rs. crore | | 69-70 | 1611.0 | | 74-75 | 3033.8 | | 79-80 | 5818.0 | | 89-90 | 23471.8 | | 95-96 | 72780.0 | | 96-97 | 87760 | | 97-98 | 105832.9 | | 98-99 | 127389.1 |
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| Growth in LIC's Claims |
| Year | Claims (Death + Maturity) | | 75-76 | 165.9 | | 78-79 | 232.9 | | 81-82 | 376.6 | | 85-86 | 728.8 | | 89-90 | 1196.9 | | 93-94 | 2725.3 | | 97-98 | 6677.0 | | 98-99 | 7583.18 |
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LIC's Rural Thrust
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| Year | No of policies (lakhs) | | Sum Assured (in Rs crore) | | | Total | Rural | %share | Total | Rural | %share | | 1961 | 14.6 | 5.3 | 36.5 | 598.8 | 182.6 | 30.5 | | 1970 | 14.0 | 4.6 | 33.0 | 1025.8 | 251.8 | 24.5 | | 1980 | 21.0 | 5.9 | 28.2 | 2733.1 | 603.8 | 22.1 | | 1990 | 73.9 | 30.5 | 41.2 | 23219.5 | 8086.4 | 34.8 | | 1998 | 133.1 | 68.4 | 51.4 | 63617.7 | 27550.7 | 43.3 |
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| LIC's Portfolio of Do-Good Investments (figures in Rs. crore) |
| | 31.3.87 | 31.3.96 | 31.3.97 | 31.3.98 | 31.3.99 | | State Govt. Securities | 1683 | 7545 | 8906 | 10471 | 12928 | | Electricity | 2603 | 7580 | 8214 | 9153 | 10591 | | Housing | 1872 | 8731 | 10967 | 12242 | 14207 | | Water Supply & Sewage | 718 | 1881 | 2028 | 2264 | 2508 | | State Road Transport | 108 | 477 | 540 | 551 | 671 |
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| Performance of Indian General Insurance Companies (figures in Rs. crore) |
| GIC | National | New India | Oriental | United India | | 98-99 | 99-2K | 98-99 | 99-2K | 98-99 | 99-2K | 98-99 | 99-2K | 98-99 | 99-2K | | Volume of Business | | 1269.74 | 1399.89 | 1646.80 | 1715.76 | 2402.34 | 2697.19 | 1558.23 | 1742.19 | 1776.91 | 1914.54 | | Profit / Loss (-) | | -101.63 | -229.53 | -212.85 | -231.91 | 13.18 | -177.98 | -257.26 | -298.50 | -128.04 | -276.63 | | Interest , Dividend and rent income (net) | | 592.07 | 649.61 | 296.30 | 332.36 | 551.51 | 613.30 | 324.35 | 359.29 | 389.45 | 427.04 | | Net Profit after tax | | 372.61 | 313.60 | 79.88 | 96.53 | 375.00 | 287.29 | 54.57 | 57.85 | 192.10 | 121.59 |
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| Growth At A Glance (Figures in million Rs.) |
| | 1996/97 | 1997/98 | 1998/99 | 1999/00 | 2000/01 | | Capital & Funds | 85,011 | 100,492 | 118,819 | 133,694 | 164,322 | | Investments | 144,74 | 168,282 | 191,683 | 220,109 | 238,498 | | Total Assets | 187,576 | 215,720 | 245,572 | 279,202 | 308,045 | | Technical Reserves | 37,729 | 40,898 | 46,216 | 51,050 | 55,504 | | Gross Direct Premium | 73,479 | 80,856 | 91,575 | 99,822 | 107,719 | | Net Premium Income | 67,33 | 73,571 | 84,025 | 93,634 | 102,721 | | Investment Income & Profit Less Outgo | 17,203 | 20,077 | 21,536 | 24,917 | 27,150 | | Profit Before Tax | 10,919 | 16,236 | 14,670 | 11,526 | 7,292 |
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Statistics (Indian & Global)
This section gives the users important and detailed statistics of the Indian as well as the Global insurance industry. These statistics would give important insights of where the respective markets are headed for.
· The global life insurance market stands at $1,521.2 billion while the non-life insurance market is placed at $922.4 billion.
· The United States itself accounts for about one-third of the $2443.6 billion global insurance market and Japan stands next with a 20.62% share.
· India takes the 23rd position with US $9.933 billion annual premium collections and a meagre 0.41% share.
· Out of one billion people in India, only 35 million people are covered by insurance.
· India's life insurance premium as a percentage of GDP is just 1.77 per cent.
· The income derived by GIC and its subsidiary companies through investment was Rs.2491.76 crore and the investible funds generated was Rs.2843 crore in 1999-2000.
· Indian insurance market is set to touch $25 billion by 2010, on the assumption of a 7 per cent real annual growth in GDP.
Global Industry Statistics
| Global Insurance Scenario
(Figures in Percent) |
| Country | (Total in 1999: $2,128.7 billion) | (Total in 2000: $2,244.3 billion) | | North America | 34.5 | 37.32 | | Europe | 31.4 | 31.93 | | Asia | 29.1 | 26.46 | | Oceania | 1.9 | 1.59 | | Latin America | 1.8 | 1.67 | | Africa | 1.3 | 1.03 |
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| Top 10 Markets
(Total Premium, figures in $billion) |
| Country | 1999 | 2000 | | United States | 688.5 | 865.3 | | Japan | 490.6 | 504.0 | | United Kingdom | 158.0 | 237.0 | | Germany | 136.7 | 123.7 | | France | 128.9 | 121.9 | | South Korea | 56.7 | 58.3 | | Italy | 47.7 | 63.1 | | Canada | 46.3 | 46.6 | | Netherlands | 34.2 | 36.5 |
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| Emerging Markets
(Total Premium, figures in $billion) |
| Taiwan | 17.3 | | China | 13.4 | | India | 7.2 | | Hong Kong | 6.1 | | Israel | 5.8 | | Singapore | 5.0 |
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| Total premiums by Country, 2000 |
| Country | Premiums (USD millions) | Share of world market (in %) | *Premiums in % of GDP | *Premiums per capita (in USD) | | United States | 865327 | 35.41 | 8.76 | 3152.1 | | Japan 14 | 504005 | 20.62 | 10.92 | 3973.3 | | United Kingdom | 236960 | 9.7 | 15.78 | 3759.2 | | Germany + | 123722 | 5.06 | 6.54 | 1491.4 | | France + | 121910 | 4.99 | 9.4 | 2051.1 | | Italy | 63062 | 2.58 | 5.8 | 1084.3 | | South Korea 14 | 58348 | 2.39 | 13.05 | 1234.1 | | Canada 11 | 46587 | 1.91 | 6.56 | 1516.8 | | Spain | 37617 | 1.54 | 6.73 | 954.2 | | Netherlands | 36450 | 1.49 | 9.87 | 2290.2 | | India 14* | 9933 | 0.41 | 2.32 | 9.9 |
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* estimated
11 Life business: net premiums
14 Financial year 01.4.2000–31.3.2001
+ provisional
| World Life and Non-Life Insurance Premiums, 1990-2000 (Figures in $billion) | |
| Year | Non-life * | Life | Total | | 1990 | 648.4 | 707.2 | 1,355.7 | | 1991 | 670.7 | 743.6 | 1,414.3 | | 1992 | 697.5 | 768.4 | 1,465.9 | | 1993 | 792.1 | 1,010.4 | 1,802.7 | | 1994 | 846.6 | 1,121.1 | 1,967.7 | | 1995 | 906.7 | 1,236.6 | 2,143.4 | | 1996 | 909.1 | 1,196.7 | 2,105.8 | | 1997 | 896.8 | 1,231.7 | 2,128.6 | | 1998 | 891.3 | 1,275.0 | 2,166.4 | | 1999 | 912.7 | 1,424.2 | 2,336.9 | | 2000 | 922.4 | 1,521.2 | 2,443.6 |
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Source- BimaOnline
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