Insurance Penetration & Underwriting Growth

9 companies Updated 28 Apr 2026

NSE-listed insurers and insurtech platforms positioned for India's structural insurance growth story, where penetration remains below 4% of GDP — roughly half the global average.

Sectors represented: Financial Services, Diversified

Companies with exposure to insurance penetration & underwriting growth

ICICIGI

ICICI Lombard General Insurance Company Limited

Financial Services
investor presentation · 2024

Comprehensive Product Portfolio. 7. Diversifiedproductmix–motor,health,travel&personalaccident,fire,marine,cropandothers. 20%. 19%. 16%. 17%. 21%. 20%. 16%. 16%. 27%. 29%. 30%. 30%. 15%. 14%. 15%. 13%. 3%. 3%. 3%. 4%. 4%. 4%. 8%. 9%. 10%. 11%. 12%. 11%. FY2023 FY2024H12024H12025. Product Mix. Others. Crop. Marine. Fire. Health, Travel & PA. Motor TP. Motor OD 9%. 16%. 17%. 21%. 20%. 16%. 16%. 27%...

GICRE

General Insurance Corporation of India

Financial Services
investor presentation · 2025

Retrocessionaire - Reinsurers give away (retrocede). part of the reinsurance premiums to limit (business). risk exposure & manage its capital efficiently. Reinsurance Industry Overview. Understanding How Reinsurance Works. Reinsurance Industry Plays a Pivotal Role for Driving the Growth of Insurance Industry. MotorPropertyLife/healthCatastropheBusiness. Retro. reinsurers. Retro. reinsurers.

BAJAJFINSV

Bajaj Finserv Limited

Diversified
investor presentation · 2026

Insurance Penetration as a % of GDP. Life Insurance Non Life Insurance. 26.1%. 22.3%. 18.0%. 67.2%. 68.9%. 67.0%. 6.7%. 8.8%. 15.0%. 202020302050. Population Composition. Less than 15 Yrs15 to 64 Yrs65 Yrs and above urance Penetration as a % of GDP. Life Insurance Non Life Insurance. 26.1%. 22.3%. 18.0%. 67.2%. 68.9%. 67.0%. 6.7%. 8.8%. 15.0%. 202020302050. Population Composition.

ICICIPRULI

ICICI Prudential Life Insurance Company Limited

Financial Services
annual report · 2026

From a customer’s point, they benefit from lower effective charges the longer they continue with the policy. Assets Under Management (AUM) d for renewal by the policyholder at the start of year five. From a customer’s point, they benefit from lower effective charges the longer they continue with the policy. Assets Under Management (AUM). AUM represents the total value of Shareholders’.

HDFCLIFE

HDFC Life Insurance Company Limited

Financial Services
annual report · 2026

Insurance contracts that do not participate in the. profits of the Company. Operating expense ratio. The ratio of Operating expenses (including. shareholders’ expenses) to Total gross premium. cts that do not participate in the. profits of the Company. Operating expense ratio. The ratio of Operating expenses (including. shareholders’ expenses) to Total gross premium. Operating Return on EV.

GODIGIT

Go Digit General Insurance Limited

Financial Services
investor presentation · 2024

Active products launched since. 2017. Diverse product portfolio. (3). 6 cr. Customers. (4). 0.6 cr policies sold. (1). 67,878. Partner network. (3) arket share for Total / Motor. insurance. Market Share. (1,2). 80. Active products launched since. 2017. Diverse product portfolio. (3). 6 cr. Customers. (4). 0.6 cr policies sold. (1). 67,878. Partner network. (3). 23.8 Lacs.

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