The Indian insurance industry was liberalized in 2000 with launch of IRDA followed by sector reforms. With the entry of private sector, the number of players has gone to 24 till 2015. There were several product innovations, and competition became intense. The regulator has become a key player in the environment. Over the years, the industry has weathered all trouble and the fundamentals augur well for long term sustainable growth.
In the first decade, there were expansive growth with the sector growing at an impressive 31%. Several regulatory changes were introduced and the market evolved with new customer centric practices in this period.
India continues to be a country of savers though we have witnessed a decline in the household savings rate in the past couple of years. India has invested much in gold and real estate and this trend is changing slowly. Demographic factors also signal high growth prospects like growing middle class, exposure to information and awareness, need for retirement planning etc.,
News
Airtel and Bharti Axa has launched combo insurance package on prepaid mobile charge
LIC to invest Rs. 1.5 lakh crore in Railways
Aviva plans to increase stake to 49%
Life Insurance premium see a rise in April-August 2015 period
List of All Life Insurance Companies in India
Aegon Life Insurance Co Ltd
Aviva Life Insurance Co Ltd
Bajaj Allianz Life Insurance Co Ltd
Birla Sun Life Insurance Co Ltd
Edelweiss Tokio Life Insurance
Hdfc Standard Life Insurance Co Ltd
Icici Prudential Life Insurance Co Ltd
IFFCO Tokio General Insurance Co Ltd
Life Insurance Corporation Of India
