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  • Analyzed That The Insurance Industry Has Grown by 83 Percent Since The Opening Upthe Sector. Remarking On

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    Harendra Rathore
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    The insurance industry in India has grown 83% since opening up to private companies, with insurance premium income rising from Rs. 45,000 crore to Rs. 82,415 crore between 2000-2001 and 2003-2004. The chairman of the insurance regulatory authority remarked that public sector insurers have not suffered from increased competition. Premium income in life insurance is projected to rise 15-16% and non-life by 14% in 2005-2006, driven by continued strong demand.

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    The insurance industry in India has grown 83% since opening up to private companies, with insurance premium income rising from Rs. 45,000 crore to Rs. 82,415 crore between 2000-2001 and 2003-2004. The chairman of the insurance regulatory authority remarked that public sector insurers have not suffered from increased competition. Premium income in life insurance is projected to rise 15-16% and non-life by 14% in 2005-2006, driven by continued strong demand.

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    10 views5 pages

    Analyzed That The Insurance Industry Has Grown by 83 Percent Since The Opening Upthe Sector. Remarking On

    Uploaded by

    Harendra Rathore
    The insurance industry in India has grown 83% since opening up to private companies, with insurance premium income rising from Rs. 45,000 crore to Rs. 82,415 crore between 2000-2001 and 2003-2004. The chairman of the insurance regulatory authority remarked that public sector insurers have not suffered from increased competition. Premium income in life insurance is projected to rise 15-16% and non-life by 14% in 2005-2006, driven by continued strong demand.

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    Attribution Non-Commercial (BY-NC)
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    Rao (2005) analyzed that the insurance industry has grown by 83 percent since the opening upthe sector.

    Remarking on

    the performance of the insurance industry, C S Rao, chairman,insuran ce regulatory & development authority, said public sector

    players have not suffered withthe opening up of the sector. Insurance premium income has risen to Rs 82,415 crore (Rs 824.15 billion) in 2003-2004,

    against Rs 45,000 crore (Rs 450 billion) in 200001. Rao expects premiumincome in the life insurance sector to rise further by 15-16 percent

    and non-life insurance premiu m by 14 percent in 2005-06. The growth comes on the back of healthy demand from the

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