IRDAI Annual Report

Question 1

As per IRDAI Annual Report, which countries are the largest insurance market?

Answer 1

1. USA
2. China
3. UK
4. Japan

Question 2

Swiss Re forecasts global premiums for life insurance to grow by ____% in comparison to 10-year trend

Answer 2

0.7%

Question 3

Swiss Re global insurance premium for non-life insurance is expected to grow by ____% in 2023

Answer 3

1.4%

Question 4

Overall global insurance premium volumes are expected to grow by ____% in 2023 and ____% in 2024, below the 10 year trend of ____%

Answer 4

1.1% in 2023 and 1.7% 2024
10 year trend of 2.6%

Question 5

As per IRDAI Annual Report, growth outlook for indian insurance is based on which 6 points?

Answer 5

• Strong Economic Growth: 7% prediction
• Rising Disposable Income: 8% growth in FY24
• Young Population: Dem Div to persist till 2055 at least
• Inc Fin Awareness: initiatives by many
• Digital Penetration: UPI & digital india initiatives
• Regulatory Developments: insurance for all - IRDAI

Question 6

Globally insurance penetration is ____% higher than India’s 4%

Answer 6

6.8%

Question 7

GRowth rate of private & public sector life premium collection is? Overall Growth of India’s Life insurance premium income?

Answer 7

Private: 16.3%
Public: 10.9%
Overall: 12.9%