The sector of life insurance has witnessed immense growth in the past few years. Today, it is second only to banks for mobilized savings and forms a formidable part of the capital market.
The life insurance sector controls:
- * More than Rs. 46,449 crore of deployed capital
- * Over Rs. 52,49,271 crore of managed assets
- * Investments in infrastructure exceeding Rs 4,58,614 crore
Another indication of the sector's growth is its infrastructural strength.
Today the life insurance sector comprises of:
-
* Over 11045 branches
* More than 24.43 lakh agents
* 3.55 lakh direct employees and growing significantly
* 32.71 crore In-force policies.
The above figures are provisional as of 31st March, 2022.
Source: Life Insurance Council.