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The Rs.50 lakh crore life insurance industry having a total 24.50 lakh individual agents has 7 lakh women agents as on March 2022, shows IRDAI annual report.
IRDAI said, “Out of the total 24.43 lakh individual agents of life insurance industry, 71% are male and 29% are female.”
While LIC accounted for 3.36 lakh or 48% of the total women agency work force, their private counterparts contributed 52% to the overall number of women in the life insurance industry.
Among life insurers, Max Life has the highest proportion of women agents to the total agency work force at 43% followed by Ageas Federal Life and SUD Life Insurance (42% each). On the other hand, 25% of the total LIC agents were women in March 2022.
The proportion of women agents was 22% in general insurance business and 28% in standalone health business.