NEW DELHI :
Despite reduced economic growth, the insurance sector has been able to grow at a healthy 9.2% in 2020-21 with the growth of life insurance at 11.2%, said Subhash ChandraKhuntia who recently retired from his position as Insurance Regulatory and Development Authority of India (Irdai) chairman.
Factors aiding industry growth
Khuntia on 8 May, in a letter to all the managing directors and chief executive officers of life, non-life and health insurers, said the Indian insurance sector is currently on the cusp of a transformation. There are three main factors at play. The first is demography of the