Agencies
Posted: Sunday, Nov 04, 2012 at 1654 hrs IST
New Delhi : India may rank low in terms of overall financial development globally, but it is the world's top-ranked country in terms of life insurance density, the World Economic Forum (WEF) has said in its latest report. Life insurance density is measured in terms of ratio of direct domestic premiums for life insurance to per capita GDP of a country.
As per WEF's Financial Development Report 2012, India has been ranked 40th in terms of overall financial development of a country, but it is placed better than many larger economies like the US, UK, Japan and China for life insurance density.
India is followed by China, Japan, US and UK in the top-five countries for life insurance density, WEF said.
In terms of non-life insurance density, India is ranked third after China and the US at top-two positions, but is ahead of countries like Germany, France, Japan and the UK.
Global consultancy giant McKinsey said in a
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Source: http://financialexpress.com/news/india-tops-life-insurance-rankings-wef/1026632/
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