GIC, LIC AAO, UIIC How to write an Essay on Role of insurance sector in economic development | Descriptive English Paper

India is the 5th largest life insurance market in the emerging insurance economies in the world. It is growing at a healthy rate of 32-34% annually. But, it had only a 1.92% share in global insurance during the financial year 2018-19 and it could penetrate only about 3.71% market in India so far. In this way, it provides tremendous growth potential in India for domestic and foreign investors.