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General insurance to grow 18% in 2008

According to Mr. K. N. Bhandari, Secretary General of the General Insurance Council, the general insurance industry is set to grow at 18% in 2008.

Apnainsurance.com Research Bureau

11 Jun 2008

According to Mr. K. N. Bhandari, Secretary General of the General Insurance Council, the general insurance industry is set to grow at 18% in 2008.

The urban market is the major contributor to this industry. However, rural penetration is growing rapidly, and is expected to drive the growth of the industry in the future.

The general insurance sector has a market value of Rs. 30,000 crore at present. Capturing the rural market will have to involve increased access points as well as distribution levels. E-marketing and institutional sales are other potential drivers of growth in the rural sector, said Mr. Bhandari.



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