Insurance Density

Select Year

 

Year

2024

 

Life

70

$ per person

Non Life

22

$ per person

Year Total Life Non Life
2001-02 11.5 9.1 2.4
2002-03 14.7 11.7 3
2003-04 16.4 12.9 3.5
2004-05 19.7 15.7 4
2005-06 22.7 18.3 4.4
2006-07 38.4 33.2 5.2
2007-08 46.6 40.4 6.2
2008-09 47.4 41.2 6.2
2009-10 54.3 47.7 6.7
2010-11 64.4 55.7 8.7
2011-12 59 49 10
2012-13 53.2 42.7 10.5
2013-14 52 41 11
2014-15 55 44 11
2015-16 54.7 43.2 11.5
2016-17 59.7 46.5 13.2
2017-18 73 55 18
2018-19 74 54 19
2019-20 78 58 19
2020-21 78 59 19
2021-22 91 69 22
2022-23 92 70 22
2023-24 95 70 25

Insurance density along with insurance penetration are the indicators of a country's insurance sector development over the years. Insurance density is measured as the ratio of premiums collected by insurance companies (in US Dollars) to the total population of the country.

The overall insurance density in India (2023-24) stands at 95 USD wherein the life insurance category accounts for 70 USD and the non-life category accounts for 25 USD.