The Insurance industry has successfully transformed to leaner and efficient operating model post the regulatory changes. The industry has gradually adapted to the new environment and is now moving back into the growth trajectory.
Against the regular decline in new business premiums that the industry witnessed between FY12-FY15, the insurance industry is now gaining traction in premium collection and has reported 15 percent CAGR growth in new business annual premium equivalent (APE) over past two years.
This pickup in new business sales has been aided by increasing formalization of the economy and overall growth in financial assets.
