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.38,585 crore of deployed capital
- * Over Rs. 46,56,346 crore of managed assets
- * Investments in infrastructure exceeding Rs 4,51,475 crore
Another indication of the sector's growth is its infrastructural strength.
Today the life insurance sector comprises of:
-
* Over 11080 branches
* More than 24.55 lakh agents
* 3.18 lakh direct employees and growing significantly
* 33.03 crore In-force policies.
The above figures are provisional as of 31st March, 2021.
Source: Life Insurance Council.