6.2 billion USD injected yearly into India's insurance sector

According to India's Insurance Regulatory and Development Authority (IRDAI), the insurance industry would need an injection of 500 billion INR (6.2 billion USD) of funds per year.

The objective is to double the penetration rate over the next five years and cover the entire population by 2047.

The insurance penetration rate was 4.2% at the end of 2021.

India is currently the 10^th largest insurance market in the world and will be the sixth by 2032.