New Delhi, Sep 19, 2007 : India’s life insurance market has grown rapidly over the past six years, with new business premiums growing at over 40% per year. Total market premiums are likely to more than double during this period, from about 40 billion dollars to 80-100 billion dollars. This implies a higher annual growth in new business annual premium equivalent or APE of 19% to 23% during the period between 2007 and 2012.