Insurance penetration drops: Swiss Re study
Posted On: Jun. 25, 2015 12:00 AM CSTA recent Swiss Re Ltd. sigma study has showed that India's insurance penetration dropped to 3.3% in fiscal year 2015, compared with 3.9% in fiscal year 2014, reported Business Standard.
The penetration for the period was the lowest since 2005-06. Nonlife insurance penetration in the country was 0.7% for the period, down from 0.8% the year prior, the study showed. Nonlife insurance premiums in the country grew 4.8% in 2014. The study found that the global insurance penetration was 6.2% in 2014.