Tuesday, October 17, 2006

Life insurance: A premium on India

An HSBC report of February 2006 predicts that both markets (India and China) will be larger than the US is today by 2035.

India is home to 20% of the world’s population under 24 years – that’s a potential 1.2 mln market.

India’s working age population accounts for 58.2% of the total population.

In India, the private consumption accounts for 64% of GDP compared with China’s 42%.

India’s middle class will more than double by 2010 – from 6% of the population to 12-13% -- representing a market of 153 million.