India is likely to become the sixth largest insurance market in the world over the next decade driven by regulatory push and rapid economic expansion. In its latest report, Swiss Re Institute expects the country's total insurance premiums to grow by an average of 14% n nominal local currency terms in the next 10 years. For the current year, Swiss Re expects India's life insurance industry to record a growth rate of 6.6% and a further rise to 7.1% in 2023.
