India Projected as Fastest-Growing Major Insurance Market with 6.9% Annual Growth

India's insurance market is projected to grow at a compound annual rate of 6.9% between 2026 and 2030, making it the fastest-growing major insurance market globally, according to reports by Swiss Re and Moody's. Growth is driven by strong economic fundamentals, rising consumer demand, regulatory reforms including higher foreign direct investment limits, digitisation, and tax incentives. Life, health, and motor insurance segments are expected to see significant premium increases. The sector's expansion follows a slower growth phase in 2025 as it adjusted to new regulations, with improved profitability and distribution anticipated in the medium term.