India's insurance premium growth to accelerate to 6.9% by 2030: Swiss Re
India's insurance premium growth will accelerate to 6.9 per cent over 20262030 outpacing China, the US and Western European markets, on strong economic fundamentals, rising demand and regulatory changes, global reinsurer Swiss Re said on Monday.The Indian insurance sector is entering a new era of robust mid-term growth and will emerge as the strongest growing major insurance market, according to a Swiss Re analysis.It said over the next five years, India will remain the world's fastest-growing major economy with an estimated average real GDP growth of 6.5 per cent underpinned by robust private consumption.According to the report, fiscal stimulus measures, such as simplification of Goods and Services Tax (GST) rates and personal income tax concessions will help spur demand from lower and middle-income households.Swiss Re forecasts India's insurance market to grow at an annual rate of 6.9 per cent over 2026 to 2030 in real terms, higher than major emerging and advanced insurance
