INSURANCE WILL GROW FASTEST IN INDIA AMONG G20

India’s insurance sector is set to be the fastest growing among G20 countries from 2024 to 2028, reinsurance giant Swiss Re said. The insurer forecasts a robust inflation-adjusted growth rate of 7.1% for India’s insurance market over the next five years, nearly three times higher than the global average of 2.4%. The Swiss Re Institute (SRI) anticipates an increase in insurance penetration (the contribution of insurance to GDP) from 3.8% to 4.5% by 2034.

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