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. 35,127 crores of deployed capital
- * Over Rs. 28,23,082 crores of managed assets
- * Investments in infrastructure exceeding Rs 3,31,674 crores
Another indication of the sector's growth is its infrastructural strength.
Today the life insurance sector comprises of:
* Over 10,943 branches
* More than 20.54 lakh agents
* 2.46 lakh direct employees and growing significantly
* 31.88 crores In-force policies.
The above figures are provisional as of 31st December 2016
Source: Life Insurance Council.