The people of India to invest their money in a volatile market in India is of the opinion that the top layer of the insurance industry and said that they think positively about this sector, but the graph shows that recent growth rates have different stories to tell.
Many believe, in India, the insurance industry as insurance, but more recently the reduction of the premium incomes of public and private life and general insurance company approved the myth. These figures came to light in connection with the insurance industry awards clearly shows that the insurance industry in India is not recession proof.
He started out life insurance sector in India, where large companies, and more trust, no income from premiums much more impressive. First of all, life insurance corporation of India (LIC) has a growth rate of 4.45% in FY09 to collect Rs.1.56 billion premium income. This decrease was in the current year for the first quarter and the private life insurance players like ICICI Prudential Life has shown that a 49% growth in the June quarter. Meanwhile, SBI Life Life PSU well as premium income Rs.1, 072,72 crore in the same quarter last year compared with the same quarter premium income Rs.1, 148 crore, 64
In the insurance sector in India is not only a sign of decline of life, but looking south, with the general insurance business. Recent data show a slow negative growth in the general insurance industry in India with the public and private companies. In the first quarter of the fiscal year in which the public sector general insurance companies like United India, New India, Oriental Insurance and guarantees increased by 14%, 7% and 10%, even PSU National Insurance has led to a negative growth of 2%.
Talking about the private insurance companies are usually a few good players, as the unit of general insurance and Tata AIG general insurance have a negative growth. Other players in the same category as Bajaj Allianz general insurance and ICICI Lombard is the growth in the south from 13 to 21 per cent in the June quarter. Some private companies, is currently the highest growth rate against all predictions, including the Royal Sundaram has grown by 10%, while Cholamandalam has a positive growth of 17%. Interestingly, HDFC General Insurance Products Manufacturer wing, HDFC ERGO is growing 246% in the premium sector.
The volatility of the insurance sector in India in connection with the growth over the past 5 years, if a company car insurance for 16%, while health insurance has increased by 37% over the same period.
The negative growth of ICICI Lombard and Bajaj Allianz general insurance and Cholamandalam General Insurance HDFC to experts as a result of coverage of the poor in urban areas, while the poor are life insurance, both because of the lack of good insurance consultant.
The Rise and Fall of Indian Insurance
Labels: Auto Insurance, Insurance