Kolkata, Sept. 12 -- India's life insurance industry is heading towards a phase of accelerated growth, backed by strong macroeconomic fundamentals, rising financial inclusion, and evolving customer preferences, a study report said.
According to PL Capital, one of India's most trusted financial services organizations, in its latest report on Life Insurance said the industry is expected to clock a compound annual growth rate (CAGR) of 14.5 per cent over FY23-35E, making it one of the most promising segments in India's financial services space.
Despite steady expansion in the recent decades, India's life insurance penetration remains significantly below global benchmarks. At 2.8 pc of GDP in FY24, it trails the developed market average of 5....