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Select Year
Year
Life
$ per person
Non Life
$ per person
| Year | Total | Life | Non Life |
|---|---|---|---|
| 2001-02 | 11.5 | 9.1 | 2.4 |
| 2002-03 | 14.7 | 11.7 | 3 |
| 2003-04 | 16.4 | 12.9 | 3.5 |
| 2004-05 | 19.7 | 15.7 | 4 |
| 2005-06 | 22.7 | 18.3 | 4.4 |
| 2006-07 | 38.4 | 33.2 | 5.2 |
| 2007-08 | 46.6 | 40.4 | 6.2 |
| 2008-09 | 47.4 | 41.2 | 6.2 |
| 2009-10 | 54.3 | 47.7 | 6.7 |
| 2010-11 | 64.4 | 55.7 | 8.7 |
| 2011-12 | 59 | 49 | 10 |
| 2012-13 | 53.2 | 42.7 | 10.5 |
| 2013-14 | 52 | 41 | 11 |
| 2014-15 | 55 | 44 | 11 |
| 2015-16 | 54.7 | 43.2 | 11.5 |
| 2016-17 | 59.7 | 46.5 | 13.2 |
| 2017-18 | 73 | 55 | 18 |
| 2018-19 | 74 | 54 | 19 |
| 2019-20 | 78 | 58 | 19 |
| 2020-21 | 78 | 59 | 19 |
| 2021-22 | 91 | 69 | 22 |
| 2022-23 | 92 | 70 | 22 |
Insurance Density along with insurance penetration are the indicators of a country's insurance sector development over the years. Insurance Density is measured as the ratio of premiums collected by insurance companies (in US Dollars) to the total population of the country.
The overall insurance density in India (2022-23) stands at 92 USD wherein the life insurance category accounts for 69 USD and the non-life category accounts for 22 USD. According to the IRDAI report India ranks at 27th position globally as compared to our neighbors in the Asia Pacific region wherein Singapore is leading in terms of insurance density with 7,563 USD and 18th ranking on the global charts followed by Taiwan with 3,662 USD (global ranking 19) and South Korea with 3,541 USD (global ranking 20) respectively.