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”.