Financial Daily from THE HINDU group of publications
Monday, Dec 19, 2005
Financial Daily from THE HINDU group of publications Monday, Dec 19, 2005 |
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Money & Banking
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Insurance Room for more insurance players: IRDA Our Bureau
Hyderabad , Dec. 18 DESPITE 14 players operating in the Indian life insurance arena and another 14 entities in the general insurance business, the country still has substantial potential for many more new insurance players owing to the highly untapped market, according to the Insurance Regulatory and Development Authority (IRDA). As a result of the Indian insurance industry being thrown open for private players, the aggregate premium income levels of the industry has grown from around Rs 9,700 crore in 2000-01 to over Rs 25,000 crore in 2004-05, reporting an average annual growth around 30 per cent, the IRDA Chairman, Mr C.S. Rao, said.
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