Key Indicators of Indian Insurance Market (2002-2003) | |
Particulars | Key Indicator |
Size of Market, Life and Non-Life | $16 billion |
Total global insurance premium (as on 2001) | $2408.25 billion (-1.5% as against 2000) |
Rate of Annual Growth year 2002-03 | Life 11.27% |
Non-life 23% (Premium underwritten in India and abroad) | |
Geographical Restriction for new players | None. Players can operate all over the country |
Equity restriction in a new Indian insurance company | Foreign promoter can hold upto 26% of the equity |
Registration Restriction | Composite Registration not available. |
Number of Registered Companies | |
Life Insurance | |
Public Sector | |
Private | |
Total | |
General Insurance | |
Public Sector | |
Private | |
Total | |
Reinsurance | |
Public Sector | |
Private | |
Total | |
Life insurers | |
Public Sector | |
Private Sector | |
General Insurance | |
Public Sector | |
Private Sector | |
Reinsurance | |
General Insurance Corporation of India |