The sector’s total balance sheet assets reached over € at the end of last year, representing a 55% increase in 5 years. The insurance market here is the fth largest in the EU in terms of assets3, whilst the reinsurance market is the second largest.4 Indeed the review of Solvency II regulation of the sector has wider societal goals at its heart.
Both in terms of creating an enabling policy environment and providing institutional support, the Reserve Bank of India is actively contributing towards the goal of universal financial inclusion in the country. FSDC has constituted a Sub-Committee to focus solely on Financial Inclusion and Literacy.