India's health insurance market is worth US$4.1 billion and is growing by 30 per cent each year, a report says. Its market potential far exceeds most other forms of insurance, a report by Winconsult (Asia-Pacific), a subsidiary of Switzerland-based Winterhur Co, said. Life insurance was the largest growth area dominated by the state-owned Life Insurance Corp and General Insurance Corp, which recorded average annual growth of more than 20 per cent. It is not open to private competition. The report said private companies could, however, move into the health insurance market, which was forecast to grow by 30 per cent annually up to 2007.