Insurance penetration in India remains low at 4.2 percent, a nominal increase from 2.7 percent in 2001, while other Asian countries such as China, Malaysia, and Thailand were at 4.3 percent, 4.72 percent, and 4.99 percent in 2019 (these countries reached India’s existing penetration rate three years earlier), and penetration in these countries is increasing rapidly. In FY 21, our insurance density had only increased to $78 from $11.5 in 2001, with life insurance accounting for $58 and non-life insurance accounting for $19. For the comparison period, global values for the life and non-life divisions were $379 and $439, respectively.