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Data released by IRDAI reveals that Uttar Pradesh, Maharashtra and West Bengal have the highest number of insurance agents in March 2024.
Uttar Pradesh has overtaken Maharashtra to top the list of states with the highest number of agents. The state has close to 3.45 lakh insurance agents in 2024. It has witnessed a 14% increase in the number of agents.
Maharashtra, which had the highest number of agents in FY23 occupies the second spot with 3.33 lakh agents.
West Bengal takes the third position with 2.11 lakh agents with a growth of 13% in one year.
Tamil Nadu and Karnataka hold the next two spots with 2.01 lakh agents and 1.65 lakh agents, respectively.
Among other states in the top 10 list are Gujarat, Bihar, Rajasthan, Andhra Pradesh and Madhya Pradesh.
The smaller union territories have witnessed the highest growth in percentage terms with Lakshadweep leading at 86.67%, followed by Daman & Diu, Dadra & Nagar Haveli at 57.52%.
Among states, Uttarakhand has witnessed the highest growth of 37% in number of agents in one year followed by Punjab with 36% increase in agency force.
States that have witnessed decline in number of agents are Madhya Pradesh, Assam, Chhattisgarh and Ladakh.
|
State / Union Territory |
Number of Agents in FY23 |
Number of Agents in FY24 |
Percentage Difference |
|
Uttar Pradesh |
302,782 |
344,515 |
13.78 |
|
Maharashtra |
303,588 |
333,271 |
9.78 |
|
West Bengal |
186,778 |
211,380 |
13.17 |
|
Tamil Nadu |
183,416 |
201,259 |
9.73 |
|
Karnataka |
152,582 |
165,604 |
8.53 |
|
Gujarat |
148,928 |
164,289 |
10.31 |
|
Bihar |
148,792 |
150,206 |
0.95 |
|
Rajasthan |
126,105 |
138,666 |
9.96 |
|
Andhra Pradesh |
113,293 |
133,459 |
17.80 |
|
Madhya Pradesh |
140,182 |
126,225 |
-9.96 |
|
Kerala |
119,329 |
125,575 |
5.23 |
|
Odisha |
112,787 |
115,988 |
2.84 |
|
Telangana |
86,484 |
103,632 |
19.83 |
|
Haryana |
81,709 |
94,532 |
15.69 |
|
Delhi |
71,624 |
94,062 |
31.33 |
|
Jharkhand |
61,226 |
72,282 |
18.06 |
|
Assam |
73,727 |
70,667 |
-4.15 |
|
Punjab |
47,126 |
64,089 |
35.99 |
|
Chhattisgarh |
55,114 |
48,258 |
-12.44 |
|
Uttarakhand |
27,239 |
37,432 |
37.42 |
|
Himachal Pradesh |
26,983 |
30,590 |
13.37 |
|
Jammu & Kashmir |
14,742 |
18,098 |
22.76 |
|
Tripura |
8,765 |
10,508 |
19.89 |
|
Goa |
10,044 |
10,400 |
3.54 |
|
Chandigarh |
6,265 |
7,759 |
23.85 |
|
Puducherry |
4,522 |
6,475 |
43.19 |
|
Manipur |
4,166 |
4,343 |
4.25 |
|
Meghalaya |
2,664 |
3,044 |
14.26 |
|
Nagaland |
2,102 |
2,360 |
12.27 |
|
Arunachal Pradesh |
1,830 |
2,143 |
17.10 |
|
Sikkim |
1,169 |
1,350 |
15.48 |
|
Mizoram |
942 |
1,206 |
28.03 |
|
Daman & Diu, Dadra & Nagra Haveli |
725 |
1,142 |
57.52 |
|
Andaman & Nicobar Is |
323 |
475 |
47.06 |
|
Ladakh |
140 |
126 |
-10.00 |
|
Lakshadweep |
15 |
28 |
86.67 |