Investor Presentaiton
Hong Kong
Taiwan
Singapore
19.2%
14.0%
7.6%
Japan
5.8%
4.0% 3.4%
3.2%
Malaysia
Thailand
India
China
2.4%
8,433
Growth opportunity: Under-penetration and favorable demographics
Life Insurance penetration¹ (FY 2022)
Life Insurance density US$ 2 (FY 2022)
Hong Kong
Singapore
Taiwan
5,414
Population composition (bn)
1.4
Household distribution by income
1.6
1.7
256
286
321
385
7%
10%
15%
1%
2%
3%
9%
16%
21%
32%
47%
Japan
3,772
2,347
444
246
253
69
58%
61%
59%
83%
76%
65%
35%
29%
26%
44%
2021
2035
2050
FY12 E
FY17 E
FY22 E
FY30 P
<Rs 0.2 mn Rs 0.21 mn > Rs 1 mn
Less than 20 years 20-64 years ■65 years and above
Number of Households (In mn)
1. Penetration as measured by premiums as % of GDP,
2. Density defined as the ratio of premium underwritten in a given year to the total population
36
Source: Swiss Re, MOSPI, United Nations World Populations Prospects Report (2022), CRISIL "The big shift in financialization" report 2022
Malaysia
Thailand
China
India
India remains vastly under-insured, both in
terms of penetration and density
Huge opportunity to penetrate the
underserviced segments, with evolution of
the life insurance distribution model
India's insurable population estimated to be
at 1 bn by 2035
Number of middle income households is
expected to almost double to 181 mn
between FY22 and FY30
o High proportion of this increase is
expected to come from semi-urban
and rural areas
HDFC
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