![[Toyota Times] From Strengthening Foundations to Boosting Productivity - Toyota Focuses on Break-Even Volume](https://businessfortnight.com/wp-content/uploads/2025/11/Toyota-Times-From-Strengthening-Foundations-to-Boosting-Productivity-Toyota-218x150.jpg "[Toyota Times] From Strengthening Foundations to Boosting Productivity – Toyota Focuses on Break-Even Volume")
Highly Underpenetrated Market
India is the ninth-largest insurance market in the world based on the life insurance premium and the fourth-largest in Asia, according to a Swiss Re report. The size of India’s insurance industry was Rs 6.9 lakh crore based on total premium in FY22 — clocking a CAGR of 11% over FY16-22. However, due to a higher share of savings than protection in premium, the actual protection provided by insurance in India is much lower than even some developing markets. Take a look. (Source: TOI | Crisil | Swiss Re | JM Financial | Data as of 2021)
