India’s insurance sector growth surpasses China, Thailand: McKinsey ...Middle East

New Delhi:  India’s insurance sector clocked a robust 11 per cent compound annual growth rate to cross the $130 billion mark during FY2020-23, surpassing Asian peers China and Thailand, which grew at less than 5 per cent, according to a McKinsey report. The report. titled ‘Steering Indian Insurance from Growth to Value in the Upcoming Techade’, said that while the country’s life insurance industry grew to $107 billion as of 2023, the general insurance industry touched $35.2 billion. A growing middle class, greater awareness, rising healthcare costs, and supportive regulations have combined to offer high growth for India’s insurance industry over the last few years, the report added. However

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