INSURANCE

• India's life insurance sector is the biggest in the world and is expected to increase at a compound annual growth rate (CAGR) of 12%-15% over the next five years.

• The insurance industry plans to hike penetration levels to five per cent by 2020, and could top the $1 trillion mark in the next seven years.

• The total market size of India's insurance sector is projected to touch $350-$400 billion by 2020 from $66.4 billion in 2013.