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The Indian general insurance sector is likely to cross the 1 trillion Indian rupees ($15.68 billion) mark in annual premium income in 2015-16, reported Business Standard citing the Press Trust of India.
The general insurance sector recorded a 9.35% year-on-year growth to INR 847.15 billion ($13.28 billion) in 2014-15.
Figures from the General Insurance Council have shown that the industry's premium volume totaled INR 94 billion ($1.47 billion) in April, up 12% year on year. "I do see 14% to15% growth in the current fiscal," said an official.