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. 37,847 crore of deployed capital
- * Over Rs. 40,18,622 crore of managed assets
- * Investments in infrastructure exceeding Rs 4,31,809 crore
Another indication of the sector's growth is its infrastructural strength.
Today the life insurance sector comprises of:
-
* Over 11,274 branches
* More than 23.17 lakh agents
* 2.88 lakh direct employees and growing significantly
* 32.81 crore In-force policies.
The above figures are provisional as of 30th June, 2020.
Source: Life Insurance Council.