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Insurers Leveraging Lender Distribution, Says Keki Mistry

Financial Express Lucknow

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July 18, 2025

INSURANCE COMPANIES ARE increasingly leveraging the wide distribution networks of banks and microfinance lenders to offer insurance solutions in underpenetrated Tier II and III cities, HDFC Life Insurance chairman Keki Mistry said at the 25th annual general meeting.

- FE BUREAU

India continues to be largely under-insured, with life insurance penetration at just 2.8%, Mistry said, adding that the country also has the highest protection gap in Asia at 91%, signaling a significant opportunity for expansion.

Quoting a Swiss Re report, Mistry said India is set to be the fastest-growing insurance market among G20 nations, with an average annual growth rate of 7.3% between 2025 and 2029.

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