Fdi in Insurance

In: Business and Management

Submitted By avifunk
Words 3714
Pages 15
FDI In Insurance

INTRODUCTION
With the deregulation of insurance industry in India since 1999, private players have got an opportunity to enter in an insurance markets. Prior to its deregulation, the life insurance business was dominated by the public sector company is life insurance Corporation of India.
While liberalization of insurance sector, as many as twelve new private life insurance companies were entered with the help of foreign equity up to 26 per cent in the life insurance business apart from the HDFC standard life, which has stand foreign equity only 18.6% in the beginning of insurance business, in the present time there are entire 22 private life insurance companies operating business in India, their in we have selected five private life insurance companies, as like ICICI prudential life insurance (2000), HDFC standard life
(2000), Aviva life (2002), SBI life insurance (2001), TATA life insurance (2001).
They are entire companies is playing a vital role in life insurance business with motive for exist and prospective customers to provide better facilities in lives saving scheme, future security, investment plan, funds investment etc. Consequently, the public-sector company has been face towards countering the challenges posed by the entered new players in the same business.
The private players have been striving to build confidence in customers and get a foothold in the markets. In competitive markets, life insurance companies come out with innovative and attractive life insurance products, and they are trying to reach customers through various techniques.
The Insurance sector reforms have open in the door for private play-ers, private insurance companies in the beginning of life insurance bus-iness with public sector company (LIC). Foreign Direct Investment (FDI) has allowed in private life insurance companies in…...

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