Mumbai: India is the 11th largest insurance market in the world by overtaking Spain. In the last decade India has jumped up 10 places. Due to the localized operations Indian companies couldn't make it to the Global rankings. The world Insurance markets in 2010 reported that world market rose to $4339 billion a growth of 0.7 percent after falling for two years after the global financial crisis. In 2010-2011 the growth was just 4.91 percent which increased two times the growth recorded by global markets. The domestic protection industry has overtaken the developed markets over the decade with the opening of the insurance sector. It was recorded that after the crisis the gain in the market share has increased due to the decline in the European Markets. In India the life insurance market has been ahead of the ten major markets that includes Australia, Switzerland, Spain, Belgium, Sweden, Ireland, Netherlands, Canada, South Africa and Taiwan. Though there has been a tremendous increase in the Indian market, Indian companies are yet to make it to the top 20 list in sales or market capitalization. Smaller Markets like Canada, South Africa and Australia have giant companies when compared to the companies in India. In terms of market capitalization, the top two life companies in the world are Chinese - China Life and Ping and Life Insurance. LIC which has a market share of over 80 percent in total premium has revenues of less than $50billion, which keeps it out of the top 10 list.