The life insurance sector

Size: px
Start display at page:

Download "The life insurance sector"

Transcription

1 BY: DR A. MUTHUSAMY AND A. MEERA WINDS OF CHANGE MARK LIFE INSURANCE MARKET IN INDIA India is still an under-insured country and holds the 18th position in the life insurance market of the world. The life insurance sector plays a vital role in the economic development of our nation. It acts as a mobiliser of savings, financial intermediary, promoter of investment activities, stabiliser of financial markets and a risk manager. However, India is still an under-insured country in the world and holds the 18th position in the global life insurance market. The other advantages provided by life insurance include security of capital, liquidity, tax benefits, etc besides, cover against risk of death. In the wake of reforms and the passage of the Insurance Regulatory and Development Authority (IRDA) Act by the parliament in 1999, Indian insurance sector was opened to private companies. Liberalisation thus facilitated entry of foreign players into the market with their part- Table I Number of Policies Name of the companies Bajaj Allianz Life 1,02,308 1,23,406 1,66,461 3,79,473 8,48,617 ( ) (20.62) (34.89) (127.97) (123.63) ING Vysya Life 53,405 62,207 74,022 74,499 1,34,360 ( ) (16.48) (18.99) (0.64) (80.35) SBI Life ,481 1,29,998 2,01,230 2,50,314 ( ) (39.54) (92.64) (54.79) (24.39) TATA AIG Life 1,06,753 1,25,672 1,62,986 2,11,509 2,81,319 ( ) (17.72) (29.69) (29.77) (33.01) HDFC STD Life 1,06,480 1,14,528 1,23,118 2,01,943 2,25,591 ( ) (7.56) (7.50) (64.02) (11.71) ICICI Life 2,86,508 3,06,205 3,49,823 4,92,423 11,06,798 ( ) (6.87) (14.24) (40.76) (124.76) Birla Sun Life 95,302 98,706 1,12,504 1,50,199 1,69,668 ( ) (3.57) (13.98) (33.50) (12.96) OM Kotak Life 24, ,356 53,843 83,168 ( ) (32.69) (11.24) (48.10) (54.46) Max New York Life 86,885 92,860 1,54,064 2,98,289 3,81,207 ( ) (6.88) (65.91) (93.61) (27.80) Met Life 27,835 38,608 43,862 64,385 68,994 ( ) (38.70) (13.61) (46.79) (7.16)

2 ners. Earlier, the Life Insurance Corporation had enjoyed the monopoly, but now foreign companies under joint venture with Indian companies were allowed in the insurance sector. This has brought in a healthy competition in the insurance market and the entry of private life insurers has considerably changed the sector in India. Some of the private life insurance companies in India are: 1. Bajaj Allianz Life Insurance 2. ING Vysya Life Insurance 3. SBI Life Insurance 4. TATA AIG Life Insurance 5. HDFC Standard Life Insurance 6. ICICI Prudential Life Insurance 7. Birla Sunlife Life Insurance 8. OM Kotak Life Insurance 9. Max New York Life Insurance 10. Met Life India Life Insurance Number of policies Table I gives the total number of policies in private life insurance companies during the period to Table I shows that the total number of policies in Bajaj Allianz was 3,79,473 in It increased to 8,48,617 in showing a percentage increase of per cent during In ING Vysya there were 74,499 policies in , that increased to 1,34,360 in , showing a percentage increase of per cent during the study The number of policies in SBI Life were 2,01,230 in It increased to 2,50,314 in , a percentage increase of per cent. The number of policies in TATA AIG and HDFC were 2,11,509 and 2,01,943 in It increased to 2,81,319 and 2,25,591 in respectively with a percentage increase of per cent and per cent respectively during the study ICICI Prudential Life and Birla Sun Life were 4,92,423 and 1,50,199 in It increased to 11,06,798 and 1,69,668 respectively in , a percentage hike of and per cent respectively. OM Kotak life was 53,843 in , increasing to 83,168 in per cent during the Max New York Life Insurance was Table II Growth in Premium Income of Private Life Insurance Companies Name of the companies Bajaj Allianz Life , , ( ) (86876) (219.21) (353.66) (212.83) ING Vysya Life ( ) (405.01) (318.29) (282.85) (25.53) SBI Life , ( ) (392.78) (211.74) (166.39) (78.87) TATA AIG Life ( ) (283.72) (212.53) (86.05) (77.09) HDFC Std Life , ( ) (344.79) (100.07) (130.59) (128.64) ICICI Prudential Life , ( ) (288.84) (136.88) (138.94) (80.24) Birla Sun Life , ( ) (409.27) (273.49) (70.31) (37.39) OM Kotak Life ( ) (431.92) (273.81) (29.87) (33.39) Max New York Life ( ) (147.98) (122.85) (92.07) (90.36) Met Life ( ) ( ) (263.21) (183.78) (152.66) Source: IRDA Annual report; Note: Percentage figures in brackets (Rs crore)

3 Table III Investment Income of Private Life Insurers (Rs lakh) Name of the company Bajaj Allianz Life ( ) ,171 ( ) ( ) (203.35) (94.69) (261.02) ING Vysya Life ( ) ,430 ( ) ( ) (191.43) (486.27) (306.35) SBI Life ,187 3,909 13,150 ( ) (2,990.48) (136.45) (299.32) (236.40) TATA AIG Life ( ) ,727 3,700 ( ) ( ) (383.49) (12,141) (114.24) HDFC Std Life ,631 4,098 16,346 ( ) (421.82) (388.61) (55.76) (298.88) ICICI Prudential Life 287 2,489 4,971 6,057 42,355 ( ) (764.11) (99.72) (21.786) (599.27) Birla Sun Life ,440 5,021 14,961 ( ) (255.17) (366.12) (248.68) (178.97) OM Kotak Life ( ) ,092 13,375 ( ) ( ) (1,614.63) (197.58) (539.34) Max New York Life ,180 6,443 ( ) (427.27) (116.26) (148.29) (195.55) Met Life ( ) ( ) ( ) (2,466.67) (200) (2,250.7) Source: IRDA Annual Reports; Note: Percentage figures in brackets 2,98,289 in It increased to 3,81,207 in , a percentage increased of per cent during the Met Life Insurance was 64,385 in It increased to 68,994 in showing a percentage increase of 7.16 per cent during Premium income An important source of insurance business is premium income. The premium amounts received under various policies are given in Table II. Table II gives the gross direct premium income of private life insurance companies. The premium earned by Bajaj Allianz was Rs 7.14 crore in , Rs crore in , and Rs crore in , showing a percentage increase of per cent during It has the second position with regard to the gross direct premium earned. ING Vysya earned gross direct premium worth Rs 4.19 crore in , Rs crore in It s earnings increased to Rs crore in , showing a percentage increase of per cent during the study In SBI Life, the premium earned was Rs crore in It increased to Rs 1, crore in showing a percentage increase of during The amount of gross direct premium earned in TATA AIG was Rs crore in It then increase to Rs crore in , per cent during In HDFC Life, premium earned in stood at Rs crore, increasing to Rs 1, crore in , a percentage increase of during ICICI Prudential life is highest premium earner. It earned Rs crore in , hiking to Rs 4, crore in ; a percentage increase of per cent during In Birla Sun Life the figures were Rs crore in The gross premium earned increased to Rs 1, crore in , thereby showing a percentage hike of per cent. The amount of gross direct premium earned in Kotak Life was Rs 7.58 crore in It increased to Rs crore in , showing a percentage gain of during In Max New York Life the corresponding figures stood at Rs in , increasing to Rs crore in showing the percentage increase of Rs per cent during In Met Life the premium earned stood at Rs 0.48 in , increasing to Rs crore in It was at the bottom of the list with the lowest premium income earned. Income from investment Investment is the allocation of monetary resource to assets that are expected to yield gain over a period of time. The investment of private insurance companies include state government securities, central government securities and other approved investments. Income from investments of the private insurance companies is given in Table III. Table III gives the net income from investment of private life insurers. Bajaj Allianz s income was Rs 149 lakh in , increasing to Rs 3,171 lakh in ; showing a percentage increase of per cent during In ING Vysya net income from investment was Rs 35 lakh in It hiked to Rs 2,430 lakh in , showing a percentage increase of per

4 Table IV Profit After Tax of Private Life Insurance Companies (Rs crore) Name of the companies Bajaj Allianz Life ( ) (69.64) (0.97) (37.07) (168.13) ING Vysya Life ( ) (22.37) (66.38) (48.82) (32.28) SBI Life ( ) ( ) (119.09) ( 29.92) ( 120) TATA AIG Life ( ) (69.93) (35.44) ( 14.64) (8.71) HDFC Std Life ( ) (91.95) ( 51.37) ( ) (41.49) ICICI Prudential Life ( ) (40.05) ( 51.30) ( ) (43.49) OM Kotak Life ( ) ( ) (18.69) ( ) ( ) ( ) (137.67) Max New York Life ( 99.66) ( ) ( 57.64) ( ) ( 39.74) Met Life ( 48.81) ( ) ( ) (250.87) (302.39) (30.79) cent during the The net income in SBI life was Rs 21 lakh in , hiking to Rs 13,150 lakh in , showing a percentage increase of per cent during the The net income from investment of TATA AIG was Rs 172 lakh in It increased to Rs 3,700 lakh in , thereby showing a percentage increase of per cent during HDFC Standard Life earned Rs 110 lakh from investment in The ICICI Prudential earned Rs 287 lakh while Birla Sun Life earned Rs 87 lakh in Their earnings increased to Rs 16,346 lakh, Rs lakh and Rs 14,961 lakh in respectively; showing a percentage hike of , and per cent during In OM Kotak, net income from investment stood at Rs 41 lakh in increasing to Rs 13,375 lakh in It had a percentage increase of per cent during the study In Max NewYork Life the corresponding earnings from investment were Rs 77 lakh in , increasing to Rs 6,443 lakh in , showing a percentage increase of per cent during the review Profit after tax Profit is an important parameter to measure the financial performance of private insurance companies. Table IV gives the profit after tax figures of private life insurers in the period during to It may be observed from the table that serious losses were incurred by all private players till Bajaj Allianz incurred a loss of Rs crore in It increased to Rs in , per cent during The ING Vysya Life Insurance incurred a loss of Rs crore in It increased to Rs crore in showing a percentage increase of per cent during In SBI Life Insurance the loss incurred amounted to Rs 0.29 crore in In , it earned a profit of crore. In TATA AIG Life the loss incurred in was Rs crore. In , it increased to Rs crore. In the year , the HDFC Standard Life Insurance suffered losses of Rs crore. It increased to Rs crore in , showing a percentage increase of per cent during The ICICI Prudential also suffered losses amounting to Rs crore in It increased to Rs crore in showing a percentage increase of per cent during In OM Kotak Life Insurance the losses were Rs crore in It increased to Rs crore in , that is per cent during Max New York Life Insurance earned a profit of Rs crores in But in , the company incurred a loss of Rs crore showing a percentage decrease in profit of per cent during the study In Met Life Insurance loss was Rs 2.84 crore in It increased to Rs crore in , showing a percentage increase in loss of per cent during the study From the above analysis it is clear that all the private players suffered losses during the Number of agents The number of licensed agents appointed by private life insurance companies during the study period are given in Table V. Table V gives the total number of agents in all life insurance companies during the period to In Bajaj Allianz the number stood at 0.04 lakh in , it increased to 0.38 in , showing a percentage increase of 2.70 per

5 Table V Number of Agents (Rs lakh) Name of the Bajaj Allianz Life ( ) (2.5) (179.57) ( 5.130) (2.70) ING Vysya Life ( ) (9.0) (2.0) (8.33) (7.69) SBI Life ( ) ( 185.7) (1.0) (2.5) ( ) TATA AIG Life ( ) (128.57) (6.25) (5.88) (5.56) HDFC Std Life ( ) (266.67) (9.09) (16.67) (21.43) ICICI Prudential Life ( ) (109.09) (13.04) (15.38) (46.67) Birla Sun Life ( ) (2.0) (5.0) (22.22) (9.09) OM Kotak Life ( ) (2.0) (33.33) (5.0) (16.67) Max New York Life ( ) (66.67) (2.0) (16.670) (87.71) Met Life (0.06) 0.08 ( ) (1.5) (2.0) (1.0) (33.33) cent during In ING Vysya Life the figure was 0.01 lakh agents in It increased to 0.14 lakh agents in , a percentage increase of 7.69 per cent. The total number of agents in SBI Life was lakh in It increased to 0.05 lakh in In TATA AIG Life the figure was 0.07 lakh agents, while in HDFC it was 0.03 lakh agents and ICICI Prudential Life 0.11 lakh agents in The corresponding figures for all companies in the year , show a percentage increase of 5.56 per cent, per cent and per cent respectively during the study In Birla Sun Life total number of agents were 0.02 lakh in It increased to 0.12 lakh in , 9.09 per cent during In O M Kotak Life the number of agents were 0.01 lakh in , increasing to 0.07 lakh in showing, a percentage increase of per cent during The total number of agents in Max New York were 0.03 lakh and Met Life lakh in The total number of agents increased to 0.13 lakh and 0.08 lakh for these companies respectively during the period , showing a percentage increase of per cent and per cent. Operating expenses Operating expenses include employees remuneration, welfare benefits and other manpower costs, travel, conveyance and vehicle running expenses, training expenses, rents, rates and taxes, repairs, printing and stationary, communication expenses, legal and professional charges medical fees, auditor fees, expenses on advertisement and bank charges. Table VI shows the operating expenses of private life insurers. The amount of operating expenses of Bajaj Allianz was Rs lakhs in It increased to Rs lakhs in showing a percentage increase of per cent during The operating expenses in ING Vysya were Rs lakhs in IT increased to lakhs in showing a percentage increase of per cent during In SBI Life, the operating expenses were Rs lakh, in TATA AIG Rs lakh and in HDFC Standard Life it was Rs lakh in The expenses increased to Rs lakh, Rs lakh and Rs lakh respectively, showing a percentage increased of per cent and per cent respectively, during the study The operating expenses of ICICI Prudential Life were Rs lakh in rising to Rs lakh in , a percentage increase of per cent during the period under consideration. The ICICI Prudential Life notched the highest operating expenses among all the private life insurers. In Birla Sun Life, it stood at Rs lakh in It increased to Rs lakh in , showing a percentage increase of per cent during The operating expenses in OM Kotak Life were Rs lakh, in Max New York Rs lakhs and in Met Life Rs 6.53 lakh in It rose to Rs lakh, Rs lakh and Rs lakh respectively, in showing a percentage increase of per cent, per cent and per cent during the Tables VII and VIII show the correlation between the following: Premium income and number of policies Premium income and number of agents Premium income and profit after tax

6 Premium income and operating expenses Summary of findings Total gross direct premium received in Bajaj Allianz Life Insurance was Rs 7.14 crore in It increased to Rs 3, crore in , showing the percentage increase of per cent during the review It was the Table VI Operating Expenses of Private Life Insurers (Rs lakh) Name of the company Bajaj Allianz Life ( ) (165.71) (98.39) (61.96) (127.07) ING Vysya Life ( ) (149.48) (71.27) (48.1) (43.92) SBI Life ( ) (106.74) (146.13) (117.19) (52.56) TATA AIG Life ( ) (57.46) (81.10) (72.13) (46.72) HDFC Std Life ( ) (69) (40.87) (134.91) (72.69) ICICI Prudential Life ( ) (104.87) (70.51) (55.51) (56.84) Birla Sun Life ( ) (84.95) (62.93) (22.27) (37.49) OM Kotak Life ( ) (65.98) (46.37) (23.92) (20.43) Max New York Life ( ) (31.88) (45.37) (51.42) (37.71) Met Life ( ) (366.15) (46.68) (113.62) (30.79) Table VII Correlation top grosser in gross direct premium received category. On the other hand, Met India Life was at the bottom earning premium income of Rs 0.48 crore in It increased to Rs crore in , showing a percentage increase of per cent during For Bajaj Allianz Life Insurance, the gross direct premium has been pegged at Rs crore in and Rs crore in In Met Life India, the gross direct premium has been estimated to be Rs crore in and Rs crore in The operating expenses of ICICI Prudential Life Insurance were Rs lakh in It increased to Rs lakh in , per cent during It spent more on operating expenses. Top players, however, spent less amount on operating expenses in ICICI Prudential s earned investment income was Rs 287 lakh in It increased to Rs 42,355 lakh in , showing the company earned more income from investment compared to other insurance companies. In Met Life India, the earned investment income was Rs three lakh in It increased to Rs 741 lakh in Name of the company Correlation between Correlation between Correlation between premium income and premium income and premium income and operating expenses profit after tax net commission paid Bajaj Allianz Life Insurance ING Vysya Life Insurance SBI Life Insurance TATA AIG Life Insurance HDFC Standard Life Insurance ICICI Prudential Life Insurance Birla Sunlife Life Insurance OM Kotak Life Insurance Max New York Life Insurance Met Life India Life Insurance

7 Table VIII Correlation Name of the company Correlation between premium Correlation between premium income and number of agents income and number of policies Bajaj Allianz Life Insurance ING Vysya Life Insurance SBI Life Insurance TATA AIG Life Insurance HDFC Standard Life Insurance ICICI Prudential Life Insurance Birla Sunlife Life Insurance OM Kotak Life Insurance Max New York Life Insurance Met Life India Life Insurance , showing a percentage hike of 2, per cent during the study It ranked at the bottom among others. All private companies in life insurance business suffered losses except SBI Life during the year Max earned a profit in to Total number of agents in Bajaj Market Survey Allianz was 0.04 lakh in It increased to 0.38 lakh, showing a percentage increase of 2.70 per cent during the study Majority of the top players have more agents. In Met India Life there were 0.04 lakh agents, increasing to 0.08 lakh during Total number of agents were minimum in Met Life Insurance. Dr A. Muthusamy is doctorate while A. Meera is research scholar, Alagappa University, Karaikudi

4.2 ANALYSIS OF THE PRIVATE LIFE INSURERS AND THEIR COMPARISON WITH THE PUBLIC LIFE INSURANCE SECTOR:

4.2 ANALYSIS OF THE PRIVATE LIFE INSURERS AND THEIR COMPARISON WITH THE PUBLIC LIFE INSURANCE SECTOR: 4.2 ANALYSIS OF THE PRIVATE LIFE INSURERS AND THEIR COMPARISON WITH THE PUBLIC LIFE INSURANCE SECTOR: The structure of the insurance industry has undergone a drastic change since liberalization, privatization

More information

Chapter - VI FUND UTILISATION OF LIFE INSURANCE COMPANIES

Chapter - VI FUND UTILISATION OF LIFE INSURANCE COMPANIES Chapter - VI FUND UTILISATION OF LIFE INSURANCE COMPANIES The previous chapters have given the details pertaining to the direct and indirect funding made by LIC in Kerala, the sector wise and industry

More information

PRODUCTIVITY OF LIFE INSURANCE COMPANIES IN INDIA

PRODUCTIVITY OF LIFE INSURANCE COMPANIES IN INDIA CHAPTER V PRODUCTIVITY OF LIFE INSURANCE COMPANIES IN INDIA 5.1 INTRODUCTION An economic measured of output per unit of input. Inputs include labor and capital, while output is typically measured in revenues

More information

FDI in the Insurance Sector A Short Note (Submitted by the Left Parties to the UPA)

FDI in the Insurance Sector A Short Note (Submitted by the Left Parties to the UPA) FDI in the Insurance A Short Note (Submitted by the Left Parties to the UPA) The Finance Minister, while presenting the first Budget of the UPA government, has proposed to raise the FDI cap in three sectors.

More information

Chapter 7 SUMMARY- FINDINGS AND SUGGESTIONS

Chapter 7 SUMMARY- FINDINGS AND SUGGESTIONS Chapter 7 SUMMARY- FINDINGS AND SUGGESTIONS In academic field the research is an ongoing process that knows no limits and no full stops. Even then the main findings emerging out of the present study have

More information

CHAPTER 5 FINANCIAL REPORTING PRACTICES OF LIFE INSURANCE COMPANIES

CHAPTER 5 FINANCIAL REPORTING PRACTICES OF LIFE INSURANCE COMPANIES CHAPTER 5 FINANCIAL REPORTING PRACTICES OF LIFE INSURANCE COMPANIES CHAPTER 5 FINANCIAL REPORTING PRACTICES OF LIFE INSURANCE COMPANIES Life Insurance Corporation of India (LIC) was a sole player in the

More information

RGI, Mohali, Punjab, India

RGI, Mohali, Punjab, India Life Insurance Industry in India - Current Scenario 1 Dr. Sonika Chaudhary, 2 Priti Kiran 1,2 RGI, Mohali, Punjab, India I. Introduction The insurance is primarily a social device adopted by civilized

More information

Insurance Business: focusing on tactical opportunities to improve their

Insurance Business: focusing on tactical opportunities to improve their Insurance Business: focusing on tactical opportunities to improve their performance in India. Abstract This study is conduct to know the approach of the insurance sector in Indian economy and to measure

More information

NEW BUSINESS PRODUCT MIX FOR INDIVIDUAL REGULAR PREMIUM BUSINESS

NEW BUSINESS PRODUCT MIX FOR INDIVIDUAL REGULAR PREMIUM BUSINESS The reduction in ULIP sales has been most noticeable for the tied agency channel. The bancassurance distribution channel is relatively less affected due to the reduced commission level on ULIPs given the

More information

IJPSS Volume 2, Issue 6 ISSN: 2249-5894

IJPSS Volume 2, Issue 6 ISSN: 2249-5894 LIFE INSURANCE CORPORATION OF INDIA: A GIANT IN INDIA S INSURANCE SECTOR Dr. Ravi N. Kadam* _ ABSTRACT INTRODUCTION The history of life insurance in India started after the establishment of a British firm,

More information

Bajaj Allianz Life Insurance Co. Ltd. FY 2006-07. Bajaj Allianz Life Insurance Co. Ltd. <25 th June 2007>

Bajaj Allianz Life Insurance Co. Ltd. FY 2006-07. Bajaj Allianz Life Insurance Co. Ltd. <25 th June 2007> Bajaj Allianz Life Insurance Co. Ltd. FY 2006-07 1 Index Private Life Insurance Market Key Highlights : FY 2006-2007 BALIC Growth in New Business Key Financial Highlights Growth in Assets NBAP FY 2006-07

More information

March 2015 Vol - 3 Issue- 3 CAPITAL STRUCTURE OF LIFE INSURANCE COMPANIES IN INDIA-AN ANALYTICAL STUDY

March 2015 Vol - 3 Issue- 3 CAPITAL STRUCTURE OF LIFE INSURANCE COMPANIES IN INDIA-AN ANALYTICAL STUDY www. epratrust.com Impact Factor : 0.998 p- ISSN : 2349-0187 March 2015 Vol - 3 Issue- 3 e-issn : 2347-9671 CAPITAL STRUCTURE OF LIFE INSURANCE COMPANIES IN INDIA-AN ANALYTICAL STUDY Mihir Ranjan Bardhan

More information

Analysis report on Term insurance

Analysis report on Term insurance Analysis report on Term insurance Project by Mithun Surpur Intern @ The right Life Insurance policy goes a long way in providing risk cover for the insured as well as saving hard earned money. The Term

More information

ROLE OF INSURANCE IN ECONOMIC DEVELOPMENT OF INDIA

ROLE OF INSURANCE IN ECONOMIC DEVELOPMENT OF INDIA 81 ROLE OF INSURANCE IN ECONOMIC DEVELOPMENT OF INDIA MONALISA GHOSAL* ABSTRACT The economic development of India was dominated by socialist influenced policies, stateowner sector, and red tape and extensive

More information

International Association of Scientific Innovation and Research (IASIR) (An Association Unifying the Sciences, Engineering, and Applied Research)

International Association of Scientific Innovation and Research (IASIR) (An Association Unifying the Sciences, Engineering, and Applied Research) International Association of Scientific Innovation and Research (IASIR) (An Association Unifying the Sciences, Engineering, and Applied Research) ISSN (Print): 2279-2 ISSN (Online): 2279-39 International

More information

Awareness and Impact of Globalization of Life Insurance in India

Awareness and Impact of Globalization of Life Insurance in India Awareness and Impact of Globalization of Life Insurance in India Jyoti Agarwal 1, Dr. K.K. Shukla 2 1 Research Scholar, Bhagwant University, Ajmer, Rajasthan 2 Assistant Professor, KCPG Degree College,

More information

Financial Performance of Life Insurers in Indian Insurance Industry

Financial Performance of Life Insurers in Indian Insurance Industry Volume 6, Issue 5, November 2013 Financial Performance of Life Insurers in Indian Insurance Industry Dr. Sumninder Kaur Bawa* Samiya Chattha** *Assistant Professor. Dept of Commerce and Business Management

More information

Online Life Insurance Market in India 2015-2019

Online Life Insurance Market in India 2015-2019 Brochure More information from http://www.researchandmarkets.com/reports/3196694/ Online Life Insurance Market in India 2015-2019 Description: Online life insurance products and services Life insurance

More information

Changes in Life Insurance Industry in India

Changes in Life Insurance Industry in India Changes in Life Insurance Industry in India S. Suresh, Assistant Professor of Commerce, SRR Government Arts & Science College, Karimnagar Introduction The growing complexity of life, trade and commerce,

More information

1 March 2006. An individual suffers from the risk of dying early and the risk of living too long. A term assurance plan covers the risk of dying.

1 March 2006. An individual suffers from the risk of dying early and the risk of living too long. A term assurance plan covers the risk of dying. 1 March 2006 Term Plans: A Comprehensive Research Report An individual suffers from the risk of dying early and the risk of living too long. A covers the risk of dying. A can also be used as a cover against

More information

INSURANCE April 2010

INSURANCE April 2010 INSURANCE April 2010 INSURANCE April 2010 Contents Advantage India Market overview Policy and regulatory framework Opportunities Industry associations 2 ADVANTAGE INDIA Advantage India India is among the

More information

Growth of life Insurance Business: Public and Private Insurance Players in India Abstract-

Growth of life Insurance Business: Public and Private Insurance Players in India Abstract- Growth of life Business: Public and Private Players in India Mrs. Sushma K. Kotgiri Abstract- Investment is primary requirement of common man to give fight to the uncontrollable circumstances to reduce

More information

Indian Life Insurance Industry The Changing Trends

Indian Life Insurance Industry The Changing Trends _ Indian Life Insurance Industry The Changing Trends 1 Sriman Srichandan, 2 Narges Ebrahimi 1 Research Scholar Fakir Mohan University, Balasore 2 Azad University of Ahvaz, Department of Management Email:

More information

THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT

THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT Performance of ULIP Schemes in Indian Insurance Market D. Jogish Professor & Head of the Department, Sai Vidya Institute of Technology, Bangalore, India

More information

Foreign Investments flow in Insurance Sector in 2016

Foreign Investments flow in Insurance Sector in 2016 Foreign Investments flow in Insurance Sector in 2016 (January 2016) The Associated Chamber of commerce and Industry of India Executive Summary Foreign investment of over Rs 12,000 crore is expected to

More information

PERFORMANCE MEASUREMENT OF CLAIMS PAID AND UNPAID: COMPARATIVE STUDY OF LIFE INSURANCE COMPANIES IN INDIA

PERFORMANCE MEASUREMENT OF CLAIMS PAID AND UNPAID: COMPARATIVE STUDY OF LIFE INSURANCE COMPANIES IN INDIA PERFORMANCE MEASUREMENT OF CLAIMS PAID AND UNPAID: COMPARATIVE STUDY OF LIFE INSURANCE COMPANIES IN INDIA Dr. P. B. Ashturkar* Abstract: The most important service that an insurance company gives to its

More information

Insurance. Lesson 18. 18.1 Objectives

Insurance. Lesson 18. 18.1 Objectives Insurance Lesson 18 Insurance You must have seen shops in the market. In these shops many articles are stored for sale. Some of you might have seen factories where machines are installed to manufacture

More information

A Study on the Behaviour of Micro (Life) Insurance Policy Holders with Reference to Coimbatore, India

A Study on the Behaviour of Micro (Life) Insurance Policy Holders with Reference to Coimbatore, India Research Journal of Recent Sciences ISSN 2277-2502 Vol. 3(ISC-), 87-94 (14) A Study on the Behaviour of Micro (Life) Insurance Policy Holders with Reference to Coimbatore, India D. Geetha and S. Vijayalakshmi

More information

Sarva U.P.Gramin Bank

Sarva U.P.Gramin Bank Sarva U.P.Gramin Bank ┬╝Sponsor-punjab national bank) Head Office: C-39/5, Jagrati Vihar, Meerut e-mail: loan@upgb.com website: www.upgb.com Head Office:- Tel.: 0121-2767793,2767796 Fax% 0121-4007290 General

More information

Enhancing Transparency and Monitoring of Insurance Markets 26-27 January, 2012 Bangkok, Thailand

Enhancing Transparency and Monitoring of Insurance Markets 26-27 January, 2012 Bangkok, Thailand Growth of Indian Insurance Industry and Determinants of Solvency Subir Sen, PhD subir.sen@teri.res.in TERI University, India nd OECD-Asia Regional Seminar on Insurance Statistics: ti ti Enhancing Transparency

More information

INDIAN LIFE INSURANCE INDUSTRY THE CHANGING TRENDS

INDIAN LIFE INSURANCE INDUSTRY THE CHANGING TRENDS INDIAN LIFE INSURANCE INDUSTRY THE CHANGING TRENDS Dr. Arnika Srivastava, Dr. Sarika Tripathi, Assistant Professor Assistant Professor Faculty of Commerce, Faculty of Commerce Sunbeam College for Women,

More information

This is a licensed product of AM Mindpower Solutions and should not be copied

This is a licensed product of AM Mindpower Solutions and should not be copied 1 TABLE OF CONTENTS 1. India Heath Insurance Industry Introduction 2. India Health Insurance Industry Size 2.1. By Premium Underwritten, FY 2006-2.2. By Number of Policies and Premium per Policy, FY 2010-3.

More information

International Journal of Advance Research in Computer Science and Management Studies

International Journal of Advance Research in Computer Science and Management Studies Volume 2, Issue 11, November 2014 ISSN: 2321 7782 (Online) International Journal of Advance Research in Computer Science and Management Studies Research Article / Survey Paper / Case Study Available online

More information

Competition in Life Insurance Sector of India

Competition in Life Insurance Sector of India Competition in Life Insurance Sector of India Abstract - My research is aimed at understanding the life insurance sector in India and flagging issues relating to competition in this sector. The life insurance

More information

Competition in Life Insurance Sector of India

Competition in Life Insurance Sector of India RESEARCH PAPER PREPARED UNDER THE INTERNSHIP PROGRAMME OF COMPETITION COMMISION OF INDIA Topic:- Competition in Life Insurance Sector of India Submitted by:- Shilpa Thakur Amity Law School, Noida INDEX

More information

Life Insurance Industry An Overview

Life Insurance Industry An Overview Life Insurance Industry An Overview Dr. Rajas Parchure Professor, National Insurance Academy & RBI Chair Professor, Gokhale Institute of Politics and Economics, Pune Historical Perspective Entry of Life

More information

Analysis of Children Insurance Plans in the Present Context

Analysis of Children Insurance Plans in the Present Context IJMT, Volume 2 Number 1 January-June, 2012 pp. 39-45 Analysis of Children Insurance Plans in the Present Context G. BALACHANDAR 1, PANCHANATHAM 2 & K. SHEIK MYTHEEN 3 INTRODUCTION Life insurance in our

More information

ARE INDIAN LIFE INSURANCE COMPANIES COST EFFICIENT?

ARE INDIAN LIFE INSURANCE COMPANIES COST EFFICIENT? ARE INDIAN LIFE INSURANCE COMPANIES COST EFFICIENT? DR.RAM PRATAP SINHA ASSISTANT PROFESSOR OF ECONOMICS A.B.N. SEAL (GOVT) COLLEGE, COOCHBEHAR-736101 E Mail:rp1153@rediffmail.com BISWAJIT CHATTERJEE PROFESSOR

More information

CHAPTER 4 A COMPARATIVE STUDY BETWEEN PUBLIC SECTOR LIFE INSURANCE AND PRIVATE SECTOR LIFE INSURANCE

CHAPTER 4 A COMPARATIVE STUDY BETWEEN PUBLIC SECTOR LIFE INSURANCE AND PRIVATE SECTOR LIFE INSURANCE CHAPTER 4 A COMPARATIVE STUDY BETWEEN PUBLIC SECTOR LIFE INSURANCE AND PRIVATE SECTOR LIFE INSURANCE The Insurance sector plays a vital role in the economic development of our nation. It acts as a mobiliser

More information

Bajaj Allianz Life Insurance Co. Ltd. Nine months ended December 07

Bajaj Allianz Life Insurance Co. Ltd. Nine months ended December 07 Bajaj Allianz Life Insurance Co. Ltd. Nine months ended December 07 1 Index Key Highlights :: Nine months ended December 07 BALIC Growth in in New Business Investment Overview NBAP Nine months ended December

More information

Theoretical Perspective of Indian Insurance Industry Profile

Theoretical Perspective of Indian Insurance Industry Profile Chapter III Theoretical Perspective of Indian Insurance Industry Profile Contents in Third Chapter. 3.1. Introduction to Indian Life Insurance. 3.2. New reforms - The Insurance regulatory and development

More information

Cost Efficiency of Life Insurance

Cost Efficiency of Life Insurance A Comparative Study of Cost Efficiency of Life Insurance Companies in India Dr. Martina R. Noronh Vice Principal, S.P.B. Eng. Med. College of Commerce, Surat m_r_noronha@yahoo.co. in Dr. Sanjay R. Shinde

More information

PERFORMANCE EVALUATION OF SELECT EQUITY FUNDS IN INDIA

PERFORMANCE EVALUATION OF SELECT EQUITY FUNDS IN INDIA PERFORMANCE EVALUATION OF SELECT EQUITY FUNDS IN INDIA DR. KUBERUDU BURLAKANTI*; RAVI VARMA CHIRUVOORI** *PROFESSOR & HEAD - DEPARTMENT OF MANAGEMENT STUDIES ANDHRA UNIVERSITY CAMPUS, KAKINADA - 533005

More information

Impact of Claim Settlement on Sales of Life Insurance policies A Case Study of LIC of India

Impact of Claim Settlement on Sales of Life Insurance policies A Case Study of LIC of India International Letters of Social and Humanistic Sciences Vol. 23 (2014) pp 1-6 Online: 2014-03-02 (2014) SciPress Ltd., Switzerland doi:10.18052/www.scipress.com/ilshs.23.1 Impact of Claim Settlement on

More information

This chapter deals with the description of the sample of 1000 policyholders focused

This chapter deals with the description of the sample of 1000 policyholders focused CHAPTER -5 DATA ANALYSIS, INTERPRETATION AND FINDINGS This chapter deals with the description of the sample of 1000 policyholders focused on demographic factors (gender, age, religion, residence) data

More information

ASIAN JOURNAL OF MANAGEMENT RESEARCH Online Open Access publishing platform for Management Research

ASIAN JOURNAL OF MANAGEMENT RESEARCH Online Open Access publishing platform for Management Research Online Open Access publishing platform for Management Research Copyright by the authors Licensee IPA Under Creative Commons license 3.0 Research Article ISSN 2229 3795 Indian life insurance industry changing

More information

CHALLENGES AND OPPORTUNITIES FOR INDIAN MOTOR THIRD PARTY INSURANCE POOL

CHALLENGES AND OPPORTUNITIES FOR INDIAN MOTOR THIRD PARTY INSURANCE POOL CHALLENGES AND OPPORTUNITIES FOR INDIAN MOTOR THIRD PARTY INSURANCE POOL INTRODUCTION Jagendra Kumar, Corporate Head, (Trg), Shriram Group Companies, Jaipur Indian Motor Third Party Insurance Pool (IMTPIP)

More information

INDIAN LIFE INSURANCE INDUSTRY CHANGING SCENARIO AND NEED FOR INNOVATION

INDIAN LIFE INSURANCE INDUSTRY CHANGING SCENARIO AND NEED FOR INNOVATION Journal of Social and Economic Policy, Vol. 11, No. 1, June 2014, pp. 103-108 INDIAN LIFE INSURANCE INDUSTRY CHANGING SCENARIO AND NEED FOR INNOVATION ARVIND KUMAR SINGH * AND MAMTA SINGH ** In the last

More information

A STUDY ON FACTORS AFFECTING CUSTOMERS INVESTMENT TOWARDS LIFE INSURANCE POLICIES

A STUDY ON FACTORS AFFECTING CUSTOMERS INVESTMENT TOWARDS LIFE INSURANCE POLICIES 106 A STUDY ON FACTORS AFFECTING CUSTOMERS INVESTMENT TOWARDS LIFE INSURANCE POLICIES ABSTRACT MS. BABITA YADAV*; DR. ANSHUJA TIWARI** *Research Scholar, Faculty of Commerce, R.D.V.V, Jabalpur. **Assistant

More information

Business Today. Date: 28/09/2014 Page No: 106 Location: Main Circulation: 185000

Business Today. Date: 28/09/2014 Page No: 106 Location: Main Circulation: 185000 Business Today The Resource Centre Date: 28/09/2014 Page No: 106 Location: Main Circulation: 185000 Edition: National ALL BASES COVERED Private insurance companies have emerged leaner, fitter and more

More information

Pension Fund Regulatory and Development Authority

Pension Fund Regulatory and Development Authority Pension Fund Regulatory and Development Authority PFRDA, First Floor, ICADR Building, Phase II, Plot No 6, Vasant Kunj Institutional Area, New Delhi-110070 1 Presentation Topics Indian Pension Scenario

More information

Valuing the Term Insurance Products in the Indian Market

Valuing the Term Insurance Products in the Indian Market Valuing the Term Insurance Products in the Indian Market By - R. Rajagopalan Abstract Pure level term insurance is the simplest life insurance product. A policyholder pays a series of equal periodic premiums.

More information

S M A R T. (An International Serial of Scientific Management and Advanced Research Trust) Vol.5 No. 1 January - June 2009

S M A R T. (An International Serial of Scientific Management and Advanced Research Trust) Vol.5 No. 1 January - June 2009 S M A R T JOURNAL OF BUSINESS MANAGEMENT STUDIES (An International Serial of Scientific Management and Advanced Research Trust) Vol.5 No. 1 January - June 2009 ISSN 0973-1598 Chief Editor Dr. M. SELVAM,

More information

Innovate or Evaporate : Redefining Channels of Distribution in Insurance Sector

Innovate or Evaporate : Redefining Channels of Distribution in Insurance Sector ISSN: 2348-7666 Vol.2, Issue -2(3), April-June, 2015 Innovate or Evaporate : Redefining Channels of Distribution in Insurance Sector G.A.Narasimham, Lecturer in Commerce, Govt College(A), Rajahmundry Introduction

More information

CHAPTER 2. Life Insurance Distribution: With Special Reference to Bancassurance

CHAPTER 2. Life Insurance Distribution: With Special Reference to Bancassurance CHAPTER 2 Life Insurance Distribution: With Special Reference to Bancassurance CHAPTER 2 Life Insurance Distribution - With Special Reference to Bancassurance 2.1 Purpose of the chapter The purpose of

More information

Useful websites directory

Useful websites directory Useful websites directory Important Government websites 1. Government of India : www.india.gov.in 2. Railway Booking : www.indianrail.gov.in 3. Govt. of India Web Directory : http://goidirectory.nic.in/

More information

Life Insurance Industries in India: Trends and Patterns

Life Insurance Industries in India: Trends and Patterns EUROPEAN ACADEMIC RESEARCH Vol. II, Issue 11/ February 2015 ISSN 2286-4822 www.euacademic.org Impact Factor: 3.1 (UIF) DRJI Value: 5.9 (B+) Life Insurance Industries in India: Trends and Patterns MOHD

More information

QUESTIONNAIRE ON HEALTH INSURANCE

QUESTIONNAIRE ON HEALTH INSURANCE QUESTIONNAIRE ON HEALTH INSURANCE Section A Name : Tel No : Area of Residence : Locality : Urban/Rural (Constituency) 1. Age Group a) 18-30 b) 31-40 c) 41-50 d) 51-60 e) Above 60 2. Gender a) Male b) Female

More information

INTERNATIONAL JOURNAL OF MANAGEMENT (IJM)

INTERNATIONAL JOURNAL OF MANAGEMENT (IJM) INTERNATIONAL JOURNAL OF MANAGEMENT (IJM) International Journal of Management (IJM), ISSN 0976 6502(Print), ISSN 0976 ISSN 0976-6502 (Print) ISSN 0976-6510 (Online) Volume 4, Issue 1, January- February

More information

Recruitment of Quality Advisor Among the Private Life Insurance Companies in India

Recruitment of Quality Advisor Among the Private Life Insurance Companies in India Indian Journal of Development Research and Social Action 2011 Volume 7 v Numbers 1-2, Jan.-Dec., 2011 v pp. 157-172 Recruitment of Quality Advisor Among the Private Life Insurance Companies in India Shailendra

More information

CLAUSE 35 OF EQUITY LISTING AGREEMENT

CLAUSE 35 OF EQUITY LISTING AGREEMENT CLAUSE 35 OF EQUITY LISTING AGREEMENT (I) (a) Statement showing Shareholding Pattern Name of the Company : TATA CHEMICALS LIMITED Scrip Code : 500770 Scrip Symbol : TATACHEM Class of Security : Equity

More information

EMERGING TRENDS IN INSURANCE A STUDY IN INDIAN LIFE INSURANCE INDUSTRY

EMERGING TRENDS IN INSURANCE A STUDY IN INDIAN LIFE INSURANCE INDUSTRY Volume 3, Issue 6 (June, 2014) Online ISSN-2277-1166 Published by: Abhinav Publication Abhinav National Monthly Refereed Journal of Research in EMERGING TRENDS IN INSURANCE A STUDY IN INDIAN LIFE INSURANCE

More information

AEIJMR Vol 2 - Issue 7 - July 2014 ISSN - 2348-6724. Indian Insurance Market-An Overview *Dr.N.Prasanna Kumar, ** Purna Prabhat Sunkara

AEIJMR Vol 2 - Issue 7 - July 2014 ISSN - 2348-6724. Indian Insurance Market-An Overview *Dr.N.Prasanna Kumar, ** Purna Prabhat Sunkara Indian Insurance Market-An Overview *Dr.N.Prasanna Kumar, ** Purna Prabhat Sunkara *Assistant Professor, Dept of Internationals Business Studies, Acharya Nagarjuna University Guntur-AP-522510 **Research

More information

A Comparative Study of Traditional Policies and ULIP Policies with reference to Life Insurance Companies in India

A Comparative Study of Traditional Policies and ULIP Policies with reference to Life Insurance Companies in India A Comparative Study of Traditional Policies and ULIP Policies with reference to Life Insurance Companies in India ABSTRACT Debabrata Mitra* & Piyali Chandra Khan** Unit Linked Insurance Plan (ULIP) is

More information

A Study on Growth Impact of General Insurance Companies, Period 2007 2011

A Study on Growth Impact of General Insurance Companies, Period 2007 2011 Volume 2 Issue 2 (May 2013 Issue A Study on Growth Impact of General Insurance Companies, Period 2007 2011 Neha Jain 1, Dr. R. k. Shrivastava 2 1 Associate Professor, Mathematics Jims, Vasant Kunj, New

More information

CHAPTER - Vll. Need for the study. Findings. Conclusions. Suggestions. Conclusion

CHAPTER - Vll. Need for the study. Findings. Conclusions. Suggestions. Conclusion 217 CHAPTER - Vll Need for the study Findings Conclusions Suggestions Conclusion 218 NEED FOR STUDY In the recent times, life Insurance have become a very important area of research in all most all the

More information

AWARENESS ON PRIVATE LIFE INSURANCE

AWARENESS ON PRIVATE LIFE INSURANCE AWARENESS ON PRIVATE LIFE INSURANCE 4.1 INTRODUCTION The Life Insurance Corporation of India (LIC) enjoyed the monopoly status till opening up of the insurance market for the private players in the year

More information

Unit-Linked Insurance Policies in the Indian Market- A Consumer Perspective

Unit-Linked Insurance Policies in the Indian Market- A Consumer Perspective Unit-Linked Insurance Policies in the Indian Market- A Consumer Perspective R. Rajagopalan 1 Dean (Academic Affairs) T.A. Pai Management Institute Manipal-576 104 Email: raja@mail.tapmi.org 1 The author

More information

Understanding Reforms in the Life Insurance Sector of India

Understanding Reforms in the Life Insurance Sector of India IJCAES SPECIAL ISSUE ON BASIC, APPLIED & SOCIAL SCIENCES, VOLUME III, JANUARY 2013 [ISSN: 2231-4946] Understanding Reforms in the Life Insurance Sector of India Leela Ram Newar Research Scholar, CMJ University

More information

The Indian institutes available on MONEY MONITOR are as follows:

The Indian institutes available on MONEY MONITOR are as follows: The Indian institutes available on MONEY MONITOR are as follows: S. No. Institute Type Institute 1 Bank - Corporate YES BANK (Corporate) (India) - Bank 2 Bank - Corporate Axis Bank (Corporate) (India)

More information

MindTree Limited Balance sheet

MindTree Limited Balance sheet Balance sheet Schedule Dec 31, 2010 March 31, 2010 SOURCES OF FUNDS Shareholders' funds Share capital 1 399 395 Share application money - - Reserves and surplus 2 7,001 6,065 7,400 6,460 Loan funds Unsecured

More information

CHAPTER - I PART A : MARKETING STRATEGIES IN LIFE INSURANCE BUSINESS

CHAPTER - I PART A : MARKETING STRATEGIES IN LIFE INSURANCE BUSINESS CHAPTER - I PART A : MARKETING STRATEGIES IN LIFE INSURANCE BUSINESS Concept of Marketing There are many definitions of marketing. The better definitions are focused upon customer orientation and satisfaction

More information

Emerging Trends and Influence of Business Strategies on Distribution channel of Life Insurance Sector in India

Emerging Trends and Influence of Business Strategies on Distribution channel of Life Insurance Sector in India Emerging Trends and Influence of Business Strategies on Distribution channel of Insurance Sector in India *Mr.P. NagaRaj **Dr.B.R.MeghaRaj ***Dr.M.Sudir Reddy Abstract The life insurance sector in India

More information

On the Determinants of Profitability of Indian Life Insurers An Empirical Study

On the Determinants of Profitability of Indian Life Insurers An Empirical Study , July 4-6, 2012, London, U.K. On the Determinants of Profitability of Indian Life Insurers An Empirical Study B. Charumathi* Abstract - The Indian life insurance industry is the least profitable market

More information

THE insurance sector in India,

THE insurance sector in India, 8 With the life and non-life sectors in India expected to continue growing at a buoyant pace, international and domestic financial majors are unveiling ambitious plans to tap the potential in the sector.

More information

Indian General Insurance Industry

Indian General Insurance Industry ICRA RATING FEATURE Financial ICRA RATING Sector FEATURE Ratings Indian General Insurance Industry Industry Outlook and Performance Review Contacts: Karthik Srinivasan +91 22 6179 6365 karthiks@icraindia.com

More information

Pension Reform in India and PFRDA

Pension Reform in India and PFRDA Presentation on Pension Reform in India and PFRDA By Ms. Mamta Rohit Chief General Manager Pension Fund Regulatory and Development Authority Pension History In 13 th century B.C. Roman Emperor, Augustus

More information

Among top insurance markets. Rapidly growing insurance segments. Increasing private sector contribution

Among top insurance markets. Rapidly growing insurance segments. Increasing private sector contribution Among top insurance markets India ranked 10 th among 147 countries in the life insurance business, with a share of 2.03 per cent during FY13 The country ranked 19 th among 147 countries in the non-life

More information

A RESEARCH ON CONSUMER PERCEPTION ABOUT LIFE INSURANCE POLICIES

A RESEARCH ON CONSUMER PERCEPTION ABOUT LIFE INSURANCE POLICIES A RESEARCH ON CONSUMER PERCEPTION ABOUT LIFE INSURANCE POLICIES PROJECT REPORT SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTERS DEGREE IN BUSINESS ADMINISTRATION OF UNIVERSITY

More information

A STUDY ON PERFORMANCE OF UNIT-LINKED INSURANCE PLANS (ULIP) OFFERED BY INDIAN PRIVATE INSURANCE COMPANIES

A STUDY ON PERFORMANCE OF UNIT-LINKED INSURANCE PLANS (ULIP) OFFERED BY INDIAN PRIVATE INSURANCE COMPANIES A STUDY ON PERFORMANCE OF UNIT-LINKED INSURANCE PLANS (ULIP) Dr. G Nagarajan * Mr. A. Asif Ali ** Mr. N. Sathyanarayana** OFFERED BY INDIAN PRIVATE INSURANCE COMPANIES Abstract: Indian Insurance Industry

More information

DISTRIBUTION CHANNELS OF LIFE INSURANCE

DISTRIBUTION CHANNELS OF LIFE INSURANCE CHAPTER IV DISTRIBUTION CHANNELS OF LIFE INSURANCE DISTRIBUTION CHANNELS OF LIFE INSURANCE This chapter deals with the various aspects related to emergence of different distribution channels after privatization

More information

Awareness and public receptivity for health insurance products a study with reference to Kanchipuram town, India

Awareness and public receptivity for health insurance products a study with reference to Kanchipuram town, India ISSN: 2347-3215 Volume 3 Number 5 (May-2015) pp. 112-121 www.ijcrar.com Awareness and public receptivity for health insurance products a study with reference to Kanchipuram town, India L. Sivaramakrishnan

More information

MEASURING PERFORMANCE AND EFFICIENCY GROWTH OF THE SELECTED INDIAN LIFE INSURANCE COMPANIES: A TOTAL FACTOR PRODUCTIVITY APPROACH

MEASURING PERFORMANCE AND EFFICIENCY GROWTH OF THE SELECTED INDIAN LIFE INSURANCE COMPANIES: A TOTAL FACTOR PRODUCTIVITY APPROACH MEASURING PERFORMANCE AND EFFICIENCY GROWTH OF THE SELECTED INDIAN LIFE INSURANCE COMPANIES: A TOTAL FACTOR PRODUCTIVITY APPROACH ABSTRACT JOY CHAKRABORTY*; DR. PARTHA PRATIM SENGUPTA** *Assistant Professor

More information

BUSINESS OPPORTUNITIES IN INSURANCE SECTOR

BUSINESS OPPORTUNITIES IN INSURANCE SECTOR 2 BUSINESS OPPORTUNITIES IN INSURANCE SECTOR 2.0 INTRODUCTION Every individual is a personality which is defined by the set of traits which he has acquired through conscious or unconscious exposure to

More information

5 Financial Statements of Insurance Companies

5 Financial Statements of Insurance Companies 5 Financial Statements of Insurance Companies BASIC CONCEPTS Claims: it refers to the amount payable by insurer to the insured when policy becomes due or the mis-happening occurs. Claim = Claim intimated

More information

While rating the features of the 16. Family Floater Health Insurance. Avail full benefits once you settle down. Ketchup BFSI Report

While rating the features of the 16. Family Floater Health Insurance. Avail full benefits once you settle down. Ketchup BFSI Report Ketchup BFSI Report Floater Insurance Avail full benefits once you settle down insurance is one of the largest growing sectors in the non-life insurance sector. Due to increasingly high medical costs and

More information

Everyone wishes to see their child graduate. For the Child s Benefit. 14 Insurance Plans Compared BFSI

Everyone wishes to see their child graduate. For the Child s Benefit. 14 Insurance Plans Compared BFSI For the Child s Benefit 14 Plans Compared As a parent or guardian, it is but your instinct to want to secure your ward s future and financial planning is a critical part of it. You want to make sure that

More information

HDFC BANK CREDIT CARDS FEATURES CUM APPLICATION FORM REGULAR CARD OFFERINGS

HDFC BANK CREDIT CARDS FEATURES CUM APPLICATION FORM REGULAR CARD OFFERINGS HDFC BANK CREDIT CARDS FEATURES CUM APPLICATION FORM REGULAR CARD OFFERINGS My City Benefit Card Smart Alerts Complement your life style with My City Benefit Card : Load your card with Smart Alerts - SMS

More information

Performance of Insurance Industry in India: A Critical Analysis

Performance of Insurance Industry in India: A Critical Analysis RESEARCH ARTICLE International Journal of Multidisciplinary and Scientific Emerging Research 2014 IJMSER, All Rights Reserved Available at http://www.ijmser.com/ (ISSN 2349 6037) Performance of Insurance

More information

The Indian insurance industry: challenges and prospects

The Indian insurance industry: challenges and prospects The Indian insurance industry: challenges and prospects Tapen Sinha, PhD Swiss Re Visiting Professor Institute of Insurance and Risk Management India Tapen Sinha is ING Commercial America Chair Professor

More information

Financial Performance of Selected Indian Life Insurance Companies: An Analysis

Financial Performance of Selected Indian Life Insurance Companies: An Analysis (International Journal of Computer Science & Management Studies) Vol. 14, Issue 07 Financial Performance of Selected Indian Life Insurance Companies: An Analysis Dr. Artta Bandhu Jena Lecturer, Department

More information

A Comparative Analysis of Investor s Risk Perceptions towards Public & Selected Private Life Insurers in Jabalpur District of Madhya Pradesh.

A Comparative Analysis of Investor s Risk Perceptions towards Public & Selected Private Life Insurers in Jabalpur District of Madhya Pradesh. A Comparative Analysis of Investor s Risk Perceptions towards Public & Selected Private Life Insurers in Jabalpur District of Madhya Pradesh Dr. Anshuja Tiwari & Ms. Babita Yadav Abstract The deregulation

More information

International Association of Scientific Innovation and Research (IASIR) (An Association Unifying the Sciences, Engineering, and Applied Research)

International Association of Scientific Innovation and Research (IASIR) (An Association Unifying the Sciences, Engineering, and Applied Research) International Association of Scientific Innovation and Research (IASIR) (An Association Unifying the Sciences, Engineering, and Applied Research) International Journal of Engineering, Business and Enterprise

More information

about 7 per cent to the country s GDP.In spite of all this growth the statistics of the

about 7 per cent to the country s GDP.In spite of all this growth the statistics of the 2-1: Introduction With such a large population and the untapped market area of this population, Insurance happens to be a very big opportunity in India. Today it stands as a business growing at the rate

More information

ICICI group insurance businesses. July 2003

ICICI group insurance businesses. July 2003 ICICI group insurance businesses July 2003 Contents Indian insurance sector ICICI Prudential Life Insurance ICICI Lombard General Insurance 2 The insurance opportunity in India 16.0% 14.0% 12.0% 14.2%

More information

A Review on Solvency Margin in Indian Insurance Companies

A Review on Solvency Margin in Indian Insurance Companies International Journal of Recent Research and Review, Vol. II, 2012 ISSN 2277 8322 A Review on Solvency Margin in Indian Insurance Companies Bhuvnesh Gour 1, M.C Gupta 2 1 Asst. Prof., Deptt of ABST, PCGE,

More information

Insurance Key Direct Tax Issues

Insurance Key Direct Tax Issues CA. Prakash Shah Insurance Key Direct Tax Issues Introduction Presently, only domestic companies are allowed to carry on the business of insurance in India. Foreign insurance companies can, however, set

More information

Claim Settlement Process of Life Insurance Services - A Case study of ICICI Prudential Life Insurance Company

Claim Settlement Process of Life Insurance Services - A Case study of ICICI Prudential Life Insurance Company International Letters of Social and Humanistic Sciences Vol. 35 (2014) pp 26-32 Online: 2014-07-11 (2014) SciPress Ltd., Switzerland doi:10.18052/www.scipress.com/ilshs.35.26 Claim Settlement Process of

More information

WEB APPENDIX The Impact of Shrouded Fees: Evidence from a Natural Experiment in the Indian Mutual Funds Market

WEB APPENDIX The Impact of Shrouded Fees: Evidence from a Natural Experiment in the Indian Mutual Funds Market WEB APPENDIX The Impact of Shrouded Fees: Evidence from a Natural Experiment in the Indian Mutual Funds Market Santosh Anagol Wharton Hoi-kwang Kim Wharton March 24, 2011 A Overview of Indian Mutual Fund

More information

International Journal of Arts and Science Research Journal home page: www.ijasrjournal.com

International Journal of Arts and Science Research Journal home page: www.ijasrjournal.com Research Article ISSN: 2393 9532 International Journal of Arts and Science Research Journal home page: www.ijasrjournal.com JuneJuneJuneLEADER AND SUBORDINATE PERCEPTION ON LEADERSHIP GROWTH AND PERFORMANCE

More information