TRENDS AND PATTERNS OF LIFE INSURANCE AND NON-LIFE INSURANCE IN INDIA: AN ECONOMIC ANALYSIS


Dr. Sanganagouda Patil
Faculty, KSRDPR University, Gadag
Abstract
Insurance of agricultural constitutes one of the important elements of the financial market. It plays a significant role in the process of financial intermediary. It is one of the most growing sectors all over the world. Within India the portion of life insurance business is 80.2% of total insurance business. The study is based on secondary data. The trends and pattern of life insurance and non-life insurance in India. The life insurance has increased from 44.03 in 2007 to 59.09 in 2015. It is around 15 percentage increased in 2007 to 2015. After the life insurance has decreased from 45.66 in 2018 to 39.41 in 2020 in India. The growth rate of life insurance and Non-life insurance in India. The life insurance has increased in 4.07 percentages in 2009 to 12.96 percentage in 2012. After the life insurance has decreased in -4.46 percentage in 2016 to -6.89 percentage in 2020. But in the same period Non-life insurance has decreased in 2009 to 2015. The sector wise growth rate of life insurance and Non-life insurance in India. The life insurance in public sector has increased in 11.15 percentage in 2008 to 40.79 in 2011 and after the life insurance has decreased in 17.19 percentage in 2012 to 3.18 percentage in 2020. As well as in private sector growth rate has increased in 12.04 percentage in 2008 to 82.31percentage in 2011 and after the life insurance in private sector has been continuously decreased during the period 2008 to 2020.
Keywords: Life Insurance, Public Sector, Private Sector
Journal Name :
EPRA International Journal of Economics, Business and Management Studies (EBMS)

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Published on : 2022-07-12

Vol : 9
Issue : 7
Month : July
Year : 2022
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