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Download Life Insurance In India: Opportunities, Challenges and by Hira Sadhak PDF

By Hira Sadhak

Lifestyles assurance in India: possibilities, demanding situations and Strategic standpoint is the 1st ebook on lifestyles assurance within the present context of globalization and financial reforms and lines the interdependence of existence assurance and macro fiscal components. It makes a speciality of structural switch, industry power and rising demanding situations for the Indian lifestyles coverage and in addition covers the worldwide lifestyles coverage undefined, regulatory regime, and industry pleasant practices out of the country. hence it presents a robust perception into rising traits within the existence coverage as an entire.

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Extra info for Life Insurance In India: Opportunities, Challenges and Strategic Perspective (Response Books)

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The economic environment of India has undergone a radical transformation since 1991 when the country was exposed to severe crisis due to a sharp plunge in foreign exchange reserve, a downgrading of Indian credit rating, suspension of foreign private capital flows, and decline in industrial output the country was on the verge of defaulting its foreign debt obligations. To overcome this difficult situation, there was no other way but to initiate reforms and structural adjustment programme by dismantling restrictions on foreign investment, flow of private capital and private initiatives in many areas of economic activities.

2 that since 1990–91, per capita income has improved significantly from Rs 6,000 to Rs 21,140 in 2002–03. Personal Disposable Income (PDI) is also a measure of purchasing power and improvement in general economic well-being. PDI in India increased from Rs 461,192 in 1990–91 to Rs 2,108,935 in 2002–03. A part of PDI goes for consumption and the other part is saved. This second part is most crucial for saving institutions like LIC. Emerging Macro Economy Since liberalization in 1991, India has come a long way and its economic performance has been quite encouraging, though so far China surpassed India in many respects.

Contractual savings, one of the two major areas of operation of a life insurance company in any economy, plays the most crucial role as a resource supplier which causes a tremendous boost in a liberalized environment. The other major area of operation is the capital market through which a life insurance company canalizes resources to the productive sector. Therefore, a well-developed and efficiently functioning capital market is equally important for growth and efficiency of a life insurance industry.

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