India is the world’s top-ranked country in terms of life insurance density, the World Economic Forum (WEF) has said in its latest report.
According to its Financial Development Report 2012, India has been ranked 40th in terms of overall financial development of a country, but it is placed better than many larger economies like the US, UK, Japan and China for life insurance density.
Life insurance density is measured in terms of ratio of direct domestic premiums for life insurance to per capita GDP of a country.
India is followed by China, Japan, US and UK in the top-five countries for life insurance density, WEF said.
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