Insurance Sector
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Transcript of Insurance Sector
Presented by-: Mahek Dhoot
Insurance = Collective bearing of risk
Life insurance corporation of India
Allianz Bajaj Birla Sun-Life HDFC Standard ICICI Prudential ING Vysya Max New York MetLife Kotak Mahindra SBI TATA AIG
National New India
Assurance Oriental United India
Bajaj Allianz ICICI Lombard IFFCO-Tokio Reliance Royal Sundaram
Alliance TATA AIG Cholamandalam Export Credit
Guarantee
HOW THEY STACK UPPremium income of life insurers in Rs crore
April - June
Growth % Total Share (%)2007 2008
LIC 8580.84 7524.56 -12 52.55
ICICI Prudential 1056.45 1,590.27 51 11.11
Bajaj Allianz 731.85 829.24 13 5.79
SBI Life 426.39 1,148.67 169 8.02
HDFC Standard 355.93 490.40 38 3.42
Max New York 289.74 501.16 73 3.50
Reliance Life 204.10 557.33 173 3.89
Birla Sun Life 174.63 501.53 187 3.50
Total Private 3930.95 6,795.64 73 47.45
Total Market 12511.80 14,320.20 14 100.00
GROWTH OF LIFE INSURANCE SOME FACTS (MAY 2008):
Market Share of Private Sector life Insurance Companies
Insurance brokers and agents
Claims handlers [are responsible for investigating incidents and paying claims. They decide the extent and validity of the claim]
Underwriters [assess risks and decide whether to accept applications for insurance cover - and on what terms]
Insurance can be summed up as
“Praying for the best …
…being PREPARED for the WORST”.