India's insurance penetration reportedly stood at 3.7% of GDP in FY25

The Economic Times reports that McKinsey put India's insurance penetration at 3.7% of GDP in FY25, compared with a 7.3% global average. Private life insurers' operating costs grew faster than new business premiums from FY22 to FY25. Across the life insurance industry, the number of individual policies sold fell around 2% annually over that period. India's insurance regulator is examining distribution costs and sales practices.