New Delhi, May 28 -- Life insurance market in India will grow at 10.5 per cent against a global average of 5 per cent over the next ten years, according to a report by Allianze Global Insurance.

The anticipation for the growth of life insurance in India is due to the growing economic activity in the Indian economy and the policies of the government to promote insurance.

The report stated that most of the growth will be in the life segment, adding that more than half of the additional premium pool will be generated in Asia, with China leading, followed by North America and Europe, but India is likely to grow at a much faster rate.

"While China (+7.8% p.a.) will continue to dominate the region in absolute terms, the real growth champion ...