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The total premium of the overall insurance industry in India (life and non-life combined) is projected to reach Rs 26 lakh crore by 2020, according to a recent report titled “Distribution Disrupted” by KPMG in India and the Confederation of Indian Industry. GDP, untapped household savings and dormant/quiescent high net-worth individual wealth in beyond top 15 cities offer new business potential for financial services companies, it adds.
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