New Delhi, Jan. 19 -- M. Nagaraju, Secretary, DFS, on Monday said during the Financial Year 2024-25, the Insurance sector has issued 41.84 crore policies, collected premiums of Rs 11.93 lakh crore, paid claims of Rs 8.36 lakh crore, and reported assets under management of Rs 74.44 lakh crore as on 31 March 2025.
He further said the total reinsurance market in India stood at Rs 1.12 lakh crore in 2024-25.
While addressing the 3rd Edition of the IFSCA-IRDAI-GIFT City Global Reinsurance Summit in Mumbai, the DFS said the Indian insurance sector, an integral part of the financial system, plays a significant role in the economy by providing protection against mortality, property, and casualty risks, encouraging savings, and providing long-term...