Of the 24 life insurance companies operating in India, only 19 insurers remained profitable in 2015-16, shows the annual report of Insurance Regulatory and Development Authority of India. During 2015-16, the life insurance industry reported profit after tax at 7,415 crore rupees as against 7,611 crore rupees for 2014-15, according to the annual report by Insurance Regulatory and Development Authority of India. Quoting Swiss Re report, IRDAI said during 2015, the life inflation adjusted insurance premium in India increased by 7.8 percent. The Indian non-life insurance sector witnessed a growth of 8.1 percent during 2015.