Edelweiss Financial Services Limited

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EW/Sec/2023-24/111 August 4, 2023 BSE Limited P J Towers, Dalal Street, Fort, Mumbai – 400 001. National Stock Exchange of India Limited Exchange Plaza,

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penetration gaps remain 04 | Way Forward • As do gaps in experience, an opportunity for new players 2 Indian non-life insurance growth story consistent, rebounded strongly in FY23 after two covid impac

300 billion

strongly in FY23 after two covid impacted years Insurance market in India is expected reach US$ 300 billion by 2025 Tariffed Era De-tariffication Growth & digital transformation CAGR 17% 2 FY02 3 FY

17%

each US$ 300 billion by 2025 Tariffed Era De-tariffication Growth & digital transformation CAGR 17% 2 FY02 3 FY05 5 FY09 5 FY10 Gross premium (US$bn) 64 10 11 22 32 FY13 FY14 FY18

1%

ublimits removed 4 Despite robust growth, penetration gaps remain Penetration Premium % of GDP – 1% , 1/4th of Global Average Density Premium Per Capita– USD 22 ~5% of Global Average 140 Cr Populat

5%

n Penetration Premium % of GDP – 1% , 1/4th of Global Average Density Premium Per Capita– USD 22 ~5% of Global Average 140 Cr Population ~95% Properties unprotected against Natural Catastrophe >5

95%

th of Global Average Density Premium Per Capita– USD 22 ~5% of Global Average 140 Cr Population ~95% Properties unprotected against Natural Catastrophe >50% Vehicles uninsured ~50% Of Health Expe

50%

% of Global Average 140 Cr Population ~95% Properties unprotected against Natural Catastrophe >50% Vehicles uninsured ~50% Of Health Expenditure ‘Out of Pocket’ As do gaps in experience, an oppor

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Customers Serviced Pin codes 3mn+ 18k+ Locations of Presence 70+ Partners Corporate Customers 50+ 1k+ 11 FY21 FY22 FY23 Recording robust growth over the years Raheja QBE Zuno Aditya Birla

49%

BE Zuno Aditya Birla Niva Bupa Star Health Go Digit ManipalCigna ICICI -Lombard AIC (Crop) 49% 49% 41% 37% 37% 31% 29% 29% Kotak Mahindra 26% 72% Acko General 132% Go Digit 93% Ni

41%

Aditya Birla Niva Bupa Star Health Go Digit ManipalCigna ICICI -Lombard AIC (Crop) 49% 49% 41% 37% 37% 31% 29% 29% Kotak Mahindra 26% 72% Acko General 132% Go Digit 93% Niva Bupa Z

37%

a Birla Niva Bupa Star Health Go Digit ManipalCigna ICICI -Lombard AIC (Crop) 49% 49% 41% 37% 37% 31% 29% 29% Kotak Mahindra 26% 72% Acko General 132% Go Digit 93% Niva Bupa Zuno