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Life Insurance in India - A Statistical Analysis

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

 

 

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

 

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

 


LIC's Rural Thrust

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

 

 

 

 

 

 

 









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


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

 

 

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

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

 


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

 


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

 



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

 

         * 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

 





Source- BimaOnline

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