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  • List of Life Insurers (As of Sept, 2006) : Life Insurer in Public Sector

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    The document discusses the privatization of the life insurance sector in India. In 1993, a committee was appointed to develop a plan for privatization, and submitted its report in 1994. However, it took until 2000 for enabling legislation to pass and for the Insurance Regulatory and Development Authority (IRDA) to be established as the insurance regulator. That same year, IRDA began issuing licenses to private life insurers, in addition to the public sector Life Insurance Corporation of India. As of 2006, there were 14 private sector life insurers in India, many of which were joint ventures between Indian groups and global insurance companies.

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    Insurance

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    Life Ins 10

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    The document discusses the privatization of the life insurance sector in India. In 1993, a committee was appointed to develop a plan for privatization, and submitted its report in 1994. However, it took until 2000 for enabling legislation to pass and for the Insurance Regulatory and Development Authority (IRDA) to be established as the insurance regulator. That same year, IRDA began issuing licenses to private life insurers, in addition to the public sector Life Insurance Corporation of India. As of 2006, there were 14 private sector life insurers in India, many of which were joint ventures between Indian groups and global insurance companies.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    Download as pdf or txt
    2 views1 page

    List of Life Insurers (As of Sept, 2006) : Life Insurer in Public Sector

    Uploaded by

    ypyee
    The document discusses the privatization of the life insurance sector in India. In 1993, a committee was appointed to develop a plan for privatization, and submitted its report in 1994. However, it took until 2000 for enabling legislation to pass and for the Insurance Regulatory and Development Authority (IRDA) to be established as the insurance regulator. That same year, IRDA began issuing licenses to private life insurers, in addition to the public sector Life Insurance Corporation of India. As of 2006, there were 14 private sector life insurers in India, many of which were joint ventures between Indian groups and global insurance companies.

    Copyright:

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    Download as PDF, TXT or read online from Scribd
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    In 1993 the Government of Republic of India appointed RN Malhotra Committee to lay down a road map for privatization of the

    life insurance sector. While the committee submitted its report in 1994, it took another six years before the enabling legislation was passed in the year 2000, legislation amending the Insurance Act of 1938 and legislating the Insurance Regulatory and Development Authority Act of 2000. The same year that the newly appointed insurance regulator - Insurance Regulatory and Development Authority IRDA started issuing licenses to private life insurers.

    LIST OF LIFE INSURERS (AS OF SEPT, 2006)

    Apart from Life Insurance Corporation, the public sector life insurer, there are 14 other private sector life insurers, most of them joint ventures between Indian groups and global insurance giants.

    Life insurer in public sector


    1. Life Insurance Corporation of India

    Life insurers in private sector


    1. Bajaj Allianz Life 2. Tata AIG Life 3. ICICI Prudential Life Insurance 4. HDFC Standard Life 5. Birla Sunlife 6. SBI Life Insurance 7. Kotak Mahindra Old Mutual Life Insurance 8. Aviva Life Insurance 9. Reliance Life Insurance Company Limited - Formerly known as AMP 10.Sanmar LIC 11.Metlife India Life Insurance 12.ING Vysya Life Insurance 13.Max Newyork Life Insurance 14.Sahara Life Insurance - Now they are not into business 15.Shriram Life Insurance 16.Bharti AXA Life Insurance Co Ltd

    AGENTS Role
    The main responsibility is to identify the prospective policy holder. To convince him & make him understands Life Insurance. Thus, selling a life

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