NAGINDAS

KHANDWAL
A COLLEGE
 Acknowledgeme
nt

The work on this project has been

an inspiring, often , exciting, sometimes
challenging, but always interesting
experience. It has been made possible
by many other people, who have
supported us.
I am very grateful to my professor Mrs.
POONAM VAMZA who has given us the
chance to participate in several
interesting research projects. She has
supported us with her encouragement
and many fruitful discussions. I would
also like to express my sincere thanks
for supporting us.
TOPIC:-
PERFORMANCE OF LIFE
INSURANCE COMPANIES..

BY:
TYBFM(25-30)
 TO:
POONAM VAMZA MAM
CREDITORS

• SAGAR PARMAR 525

• MADHURI PATEL 526
• RICHA PATEL 527
• SNEHA PATEL 528
• VAIBHAV PATEL 529
• VIKAS PATEL 530
 INSURANCE COMPANIES
The performance of the insurance sector in financial year 2008-09 was
largely influenced by the sub-prime crisis. The sub-prime crisis started in the
United States in late 2007, evolved as a financial crisis in US and later
engulfed Europe and UK. By late 2008 it seeped into Asia. As a result, the
financial crisis deepened among many countries of the world, thus forcing
the respective governments to take necessary steps to come out of the
crisis. Besides increased unemployment in various countries, economic
growth was also hampered and the IMF and World Bank lowered the world
economic contraction for 2008-09 to 1.1 per cent lower than what was
projected earlier.Fall of financial institutions and lack of confidence in the
banking system impacted the financial markets. Money and capital markets
tumbled down to their lowest levels across the world. As a result, many
investors lost their wealth. Internationally, except for a few large companies,
insurance companies were fairly insulated, though for the first time since
1980, insurance premiums declined in real terms with non-life premiums
falling by 0.8 per cent and life premiums falling at a much higher rate of 3.5
per cent. Further, because of higher volatility in the financial markets,
insurance companies, lost heavily on investment income. As such, the
profitability of the insurance companies deteriorated in 2008 not only due to
low investment yields but also because of high cost of guarantees and lower
revenues from management fees.

As a consequence of the impairment of the value of their investments

both banks and insurance companies were forced to recapitalize to meet
regulatory requirements. This has thrown a big challenge, as investors lost
substantial wealth and were reluctant and unable to make further
investments and there was scarcity of capital. The governments across the
world have started infusing capital into the financial system so as to bring
back stability into the system. Though well insulated, India, could not totally
escape the tide of the financial crisis. Due to its higher levels of income
growth during the past five years as also because of prudent financial
management underpinned by sound and solid banking system supporting
the payment and settlement procedures, India had limited the contagion
effect. However, the stock values declined sharply effecting capital
availability. India also had to loose some of its policies and adopted both
conventional and unconventional methods to contain the contagion effect.
The Indian economy which had grown at an average of 8.8 pe cent before
2008-09 could grow only at 6.7 per cent.

While the first half of 2009-10 has seen a substantia mitigation of the
financial effects of the crisis an markets and covering, the crisis has raised
serious concerns compelling Governments and Regulators to consider
various steps necessary to strengthen the financial system in the long term.
This is an evolving exercise under the leadership of the G-20. The principal
elements of the strategy recommended by the G-20 are to make more
robust the Capital Adequacy and Solvency norms specified for various types
of financial enterprises, more comprehensive regulatory oversight, increased
surveillance of large and systemically critical financial entities and greater
sharing of information across countries.

Insurance in India has been viewed as a tax saving instrument and risk
cover in life insurance was purely incidental. The mindset continues to be the
same, although the unit-linked instruments are becoming popular. The
emergence of pure risk products has thus taken a back seat. Lapsation is a
serious issue. Life insurers are striving to design imaginative products so as
to ensure long term commitments from the policyholders. In the process
there is a need for the distributors to play a key role in identifying the needs
of the prospect and then sell insurance so that long-term retention of
customers is established. In India, most of the healthcare spending is by way
of out-of-pocket expenses and in this background the sudden surge of health
insurance with a 60 per cent growth is phenomenal. Besides, health
insurance portfolio is itself new to the Indian domain and thus the growth is
additionally significant. A part of this growth is certainly on account of the
increase in the awareness levels of the people. Nevertheless, it is not that
everything is hunky dory and fine with the class. Customer grievances
continue to haunt the health insurers. Issues relating to providing health
insurance to senior citizens, and at affordable premiums are an area that has
been in the limelight. With better clarity on pre-existing diseases and
premium rates, it is hoped that a lot of controversies associated with this
class could be nullified. It is also important, that policyholders should realize
the importance and the basic principles of insurance, before getting into any
claim-related disputes.
Performance of Life insurance companies in 2009-2010
During the first quarter of the current financial year life insurers
underwrote a premium of Rs.14456.34 crore, marginally higher than
Rs.14320.20 crore in the comparable period of last year. LIC accounted for
Rs.9028.68 crore and the private insurers accounted for Rs.5427.66 crore.
While the premium underwritten by LIC increased by 19.99 per cent,
premium of the private insurers declined by 20.13 per cent over the
corresponding period of the previous year. The number of policies written by
life insurers grew by 12.06 per cent. While the number of policies written
By LIC increased by 22.59 per cent, there has been a decline of 6.57 per cent
in the case of private insurers. Of the total premium underwritten, individual
premium accounted for Rs.10308.40 crore and the remaining Rs.4147.93
crore came from the group business. In respect of LIC, individual business
was Rs.5963.64 crore and group business was Rs.3065.04 crore. The
corresponding figures for private insurers were Rs.4344.75 crore and
Rs.1082.90 crore respectively

The numbers of lives covered by life insurers under the group

scheme were 89.90 lakh recording a growth of 60.16 per cent
over the previous period. Of the total lives covered under the
group scheme, LIC accounted for 33.18 lakh and private insurers
56.72 lakh. The life insurers covered 37.86 lakh lives in the social
sector with a premium of Rs.34.13 crore. In the rural sector, the
insurers underwrote 21.89 lakh policies with a premium of
Rs.1455.71 crore.

Performance in the first half of 2009-10

The insurance industry has registered a growth of 11.35 per cent

in premium collections in the first six months of this financial year
at Rs.55866.54 crore as compared to Rs.50171.09 crore during
the corresponding period of last year. The life insurance sector
has grown by around 13 per cent while the nonlife segment
witnessed a growth of around 8 per cent in the first-half of 2009-
10. First year premium income of life insurance players stood at
Rs.39046.59 crore in the April-September period as against
Rs.34599.37 crore in the corresponding period of last year. The
total premium underwritten by the general insurance companies
in the same period was Rs.16819.95 crore as compared to
Rs.15571.72 crore in the year-ago period.

Life Insurance in India

Life Insurance in India was nationalized by incorporating Life Insurance
Corporation (LIC) in 1956. All private life insurance companies at that time
were taken over by LIC.
In 1993 the Government of Republic of India appointed RN Malhotra
Committee to lay down a road map for privatization of the life insurance
sector.
While the committee submitted its report in 1994, it took another six
years before the enabling legislation was passed in the year 2000, legislation
amending the Insurance Act of 1938 and legislating the Insurance
Regulatory and Development Authority Act of 2000. The same year that the
newly appointed insurance regulator - Insurance Regulatory and
Development Authority IRDA – started issuing licenses to private life insurers.
LIST OF LIFE INSURERS
Apart from Life Insurance Corporation, the public sector life
insurer, there are 14
other private sector life insurers, most of them joint ventures
between Indian
groups and global insurance giants.

Life insurer in public sector

1. Life Insurance Corporation of India

Life insurers in private sector

1. Bajaj Allianz Life
2. Tata AIG Life
3. ICICI Prudential Life Insurance
4. HDFC Standard Life
5. Birla Sunlife
6. SBI Life Insurance
7. Kotak Mahindra Old Mutual Life Insurance
8. Aviva Life Insurance
9. Reliance Life Insurance Company Limited - Formerly known as AMP
10. Sanmar LIC
11. Metlife India Life Insurance
12. ING Vysya Life Insurance
13. Max Newyork Life Insurance
14. Sahara Life Insurance - Now they are not into business
15. Shriram Life Insurance
16. Bharti AXA Life Insurance Co Ltd.

Some Facts about Indian Life Insurance Sector

Before trying to get an idea about the performance of Indian Life Insurance
Sector in 2008-09, it will be better to take a look at some of its previous
records that played a major role in the performance of this sector. With the
passing of the Insurance Regulatory and Development Authority Act, the
government of India made room for the private players in the sector, which
in turn, resulted in impressive growth rates. Until that time, the Life
Insurance Corporation of India was the only entity to represent the Indian life
insurance industry. With passing time, the de-tariffing measures as well as
the commission limits added to the scenario of competition and introduction
of innumerable products. Between the periods 2000-01 and 2007-08, the life
insurance market of India grew at the rate of 26% in terms of Compounded
Annual Growth Rate (CAGR).

Performance of Indian Life Insurance Sector in 2008-09

Reckoned among the fastest growing industries, the Life Insurance Industry
of India has 23 license-holders running their business in this sector. The Life
Insurance Corporation of India (LIC), which is the only player in the public
sector, contributes over 70% to the business. The remaining area is covered
by the 22 private sector companies.

While considering the performance of the insurance industry in the fiscal

year 2008-09, it will be seen that the life insurance sector of India registered
a growth rate of 10.15% in the area of overall premium collection to Rs
221791.26 crore. In 2007-08, the industry had accounted for 29.0% growth
posting Rs.201351.41 crore. There was a marginal rise as per new policy
sales are concerned. It witnessed a nominal growth of 0.1% to 5.09 crore in
the year 2008-09 as against 10.23% in previous financial year.

In the period ranging from April-December 2009, the total new premium
income soared to Rs 67557.61 crore posting a growth of 29.2%. In the same
period of the previous year, the premium collection stood at Rs 52298.86
crore.

On looking at the performance of the life insurance sector in April-December

2009, it was found that the new premium income was considerably more
than the 15% growth suggested by the Life Insurance Council for the period
2009-10.
Performance of noted Indian Life Insurance Companies in 2008-09
Some of the life insurance companies in India that reported positive growth
in the financial year 2008-09 are LIC, Met Life, Kotak Mahindra and Shriram.
LIC booked a gain of Rs 957.35 crore as against Rs 844.63 crore the previous
year. Met Life benefits rose to Rs 14.52 crore and Shriram profits were up by
Rs 8.11 crore. Kotak Mahindra, which had booked a loss of 71.87 crore
previous year, saw its profits rising by 14.34 crore.

However, the scenario was not same for all the companies. SBI Life, after
reporting profits for 3 years in a row, faced a loss of Rs 26.31 crore in 2008-
09. ICICI Prudential also incurred a record loss of Rs 779.70 crore.

Some Bleak Facts about Indian Life Insurance Sector in 2008-09

While considering the performance of Indian Life Insurance Sector in 2008-
09, we cannot ignore some downward trends the industry had undergone.
The private players in this sector witnessed a loss of Rs 4,879 crore. In order
to tackle the losses, the life insurance company giants had to infuse Rs 5,956
crore. According to Insurance Regulatory and Development Authority (IRDA),
the industry suffered on account of decline in demands and poor interest
rates in addition to other factors.

Registered Insurers in India

By end March 2009, there were forty-four insurance companies operating in

India; of which twenty-two were in the life insurance business and the
remaining twenty-one were in general insurance business and one national
re-insurer. Of these forty-four companies, 8 are in the public sector (two
specialised insurers, namely ECGC and AIC, one in life insurance, four in
general insurance and one re-insurer). The remaining thirty-six are private
sector companies.
 Premium

Life insurance industry recorded a premium income of Rs.221791.26

crore during 2008-09 as against Rs.201351.41 crore in the previous financial
year, recording a growth of 10.15 per cent. Out of Rs.221791.26 crore,
premium from unit-linked products, stood at Rs.90645.78 crore. This resulted
in a fall in the share of unit linked premium to the total premium to 40.87 per
cent in 2008-09 from 46.14 per cent in 2007-08. The decline was observed
both in the case of LIC and private insurers. This decline can be attributed to
subdued Indian equity market. The share of ULIP premium to total premium
fell to 22.06 per cent in LIC from 31.61 per cent in 2007-08. The private
insurers registered a marginal slowdown in ULIP products, as the composition
of ULIP premium to the total premium for them was 86.74 per cent in 2008-
09, as against 88.34 per cent in 2007-08. Regular premium, single premium
and renewal premium in 2008-09 were Rs.49370.56 crore (22.26
per cent); Rs.37635.67 crore (16.97 per cent); and Rs.134785.03 crore
(60.77 per cent), respectively. It may be recalled that in 2000-01, when the
industry was opened up, the life insurance premium was Rs.34898.48 crore
which comprised of Rs.6966.95 crore (19.96 per cent) of regular premium,
Rs.2740.45 crore (7.86 per cent) of single premium and Rs.25191.07 crore
(72.18 per cent) of renewal premium. (Statements 29, 30)
Market share of life insurance.

The size of life insurance market, although recording positive

growth witnessed retardation in the growth. The LIC could grow
further its life business by 5.01 per cent in 2008-09 as against an
increase of 17.19 per cent in 2007-08. The private insurers
increased their premium by 25.10 per cent in 2008-09 as against
a higher rise of 82.50 per cent in 2007-08. In terms of premium
underwritten, the market share of private life insurance
companies continued to rise
in 2008-09, which surged to 29.08 per cent from 25.61 per cent in
2007-08. The market share of private insurers in first year
premium increased to 38.88 per cent in 2008-09 from 35.98 per
cent in the previous year. While, there has been an increase in
the market share in the regular premium, market share of private
insurers in single premium has declined. In the case of regular
premium, the market share of private insurers went up further to
61.23 per cent in 2008-09 from 52.23 per cent in 2007-08. In
contrast, the share of single premium of private life insurers fell to
9.56 per cent from its previous year’s level of 13.01 per cent. On
the other hand, the market share of LIC in single premium has
increased to 90.44 per cent In 2008-09 as against 86.99 per cent
in 2007-08.
PRESENT SCENARIO - LIFE INSURANCE
INDUSTRY IN INDIA
The life insurance industry in India grew by an impressive 47.38%, with
premium income at Rs. 1560.41 billion during the fiscal year 2006-2007.
Though the total volume of LIC's business increased in the last fiscal year
(2006-2007) compared to the previous one, its market share came down
from 85.75% to 81.91%.

The 17 private insurers increased their market share from about 15% to
about 19% in a year's time. The figures for the first two months of the fiscal
year 2007-08 also speak of the growing share of the private insurers. The
share of LIC for this period has further come down to 75 percent, while the
private players have grabbed over 24 percent.

With the opening up of the insurance industry in India many foreign players
have entered the market. The restriction on these companies is that they are
not allowed to have more than a 26% stake in a company’s ownership.

Since the opening up of the insurance sector in 1999, foreign investments of

Rs. 8.7 billion have poured into the Indian market and 19 private life
insurance companies have been granted licenses.

Innovative products, smart marketing, and aggressive distribution have

enabled fledgling private insurance companies to sign up Indian customers
faster than anyone expected. Indians, who had always seen life insurance as
a tax saving device, are now suddenly turning to the private sector and
snapping up the new innovative products on offer. Some of these products
include investment plans with insurance and good returns (unit linked plans)
multi – purpose insurance plans, pension plans, child plans and money back

plans. (www.wikipedia.com)
Growth of Insurance Companies.

Owing to the global economic slowdown, the outlook is grim for

the global insurance sector and it is likely to witness moderation
in growth. Likewise, the growth in unit-linked life insurance plans
is likely to get affected by the crash in stock markets across the
globe and fall in income levels. The slowdown in economic activity
will reduce the premium growth in non-life business. While the
premium in industrialised economies is expected to decline, the
premium in emerging economies may witness moderation.

Structure of the Indian insurance industry

As on March 31, 2008, the Indian insurance industry consisted of
21 life insurance companies, 21 general insurance companies
and one reinsurance company. Among these companies the
public sector owned one life insurance, six general insurance and
one reinsurance company However, the public sector companies
accounted for approximately 73% of the total insurance
premium.
During the CY07, insurance penetration in the life insurance segment was
approximately 4% as against 4.1% in CY06. Non-life insurance penetration
remained unchanged at 0.6% in CY07. During the same period, life
insurance density improved to US$ 40.4 in CY07 from US$ 33.2 in previous
year. Similarly for non life insurance business density improved from US$
5.2 to US$ 6.2 in CY07.

When the insurance sector was opened up for private insurance companies
in 1999 many players opted for JVs with foreign players who were
recognised across the globe. Over the last 8 years, consumer awareness
about insurance improved considerably. Moreover, increased competition
pushed up product innovation and stepped up customer servicing options in
the sector. All these positive developments made a good impact on the
economy and generated income and employment within the sector.

Private companies making rapid inroads in the life insurance

industry
In April 2000 the IRDA Act was enacted and up to 26% FDI was allowed in
the sector through the automatic route, which opened the insurance market
to the private sector with limited exposure to foreign equity; as a result, the
network of private companies increased significantly.

Substantial extension in reach of private life insurers

Private life insurance companies are investing heavily to increase their
reach in the untapped markets and to increase their market share in the
overall growing pie. This is evident by the extent of their office and branch
expansions. During FY08, there was a significant increase in the number of
offices held by life insurers. As on March 31, 2008, the number of offices
was 8,913 as compared with 5,373 in the previous year. A major portion of
this expansion occurred in the private sector, where the number of offices
more than doubled from 3,072 to 6,391. In the meanwhile, the number of
offices held by LIC increased at a modest 10% to 2,522 offices.

Life insurance still scores amid financial slowdown

The insurance industry largely depends on the life insurance segment,
sharing of 91% in the total net premium of the industry. During FY08
financial markets across the globe witnessed a sharp setback in their
operations, which also affected the Indian economy, however, at a less
severe note. Favourable investment opportunities helped the insurance
industry to post significant growth in the first year premium and renewal
premium. During FY08, the life insurance industry reported yearly growth of
about 23.8% and 28.9% in the first year and renewal premium, respectively;
however, this growth was far lower than the previous year’s respective
growth rates of 95% and 47%. Among the life insurance companies, there is
only one public sector company viz. LIC, which accounts for about 74% of
the total net premium earned.

LIC faces stiff competition from the private players

Even though the LIC enjoys a monopolistic market position, private
companies are rapidly making inroads in the industry by increasing their
share in the total premium. Moreover, the number of policies issued by
private companies has been increasing significantly over the past few years.
Considering the pace of newcomers in capturing the market share from
existing players in terms of premium and number of policies issued, LIC
faces significant competition from the private companies in near future.

Among all the companies, private companies posted a significant yearly

growth during each of the three previous years. LIC, on the other hand
reported low growth of about 6.7% in the first year premium during FY08
mainly due to negative growth of 1.6% in new policies.
The strategy of high investment and increase in number of players has led to the high
growth in the private sector. The greater marketing and advertising push by private players
led to a steady growth in the number of new policies issued over the last three years. Also
higher product innovation, like ULIPs and greater emphasis on customer education has also
paid well for the private players.

Private companies reap the benefits of synergy in distribution

Channel wise analysis of new business premium revealed than public sector
life insurer viz. LIC has stick to their traditional channel of doing the
business, through individual agents. During FY08, the individual agents of
LIC contributes approximately 98% of their total new individual policies
issued and premium earned, whereas in case of private players, individual
agents share about 60% of total new individual policies issued and premium
earned. However, corporate agents played a major role in the insurance
penetration for the private players, sharing approximately 27% and 30% of
their new business policies and premium respectively. On the contrary it is
seen that LIC has very few tie-ups with the corporates. Apart from above,
private players are also indulge in the direct selling, which mobilise
approximately 12% of new policies issued.

During FY08, LIC reported negative growth of 1.6% in total individual

new policies whereas private companies reported significant yearly
growth of about 67.4%. Corporate agents and brokers were the major
contributors to the growth for private companies, new policies issued
through this channel, grew by more than 100% on y-o-y basis.
Moreover, aggressive direct selling has mobilised huge business for
private companies, which reported stupendous growth of more than
10 times in the new policies issued. Being solely depended on the
individual agents for the business, LIC faces stiff competition from the
private players, given the fact that private players are well positioned
to use the synergic benefit of reaching the mass through corporate
agents (including banks) and brokers. Moreover, poor agent
awareness about innovative products, high agent turnover in the
industry and huge training cost may affect the business of the LIC.

Performance of Diffrents Life Insurance Companies.

1. Life Insurance Corporation of India

LIC still remains the largest life insurance company accounting for 64%
market share. Its share, however, has dropped from 74% a year before,
mainly owing to entry of private players with innovative products and better
sales force.

LIC experienced growth of only 5% during 2007-08 in new business premium.

It had an estimated 1.1 million licensed agents, with the private insurers
adding another 900,000.

LIC witnessed decline in sales by 24% for new business premium for the first
four months for the current financial year.

Total sales stood at Rs 10,797.1 crore during April-July as against new sales
of Rs 14,186.04 crore in the corresponding period last financial year.

This is was mainly due to slowdown in economy and crash of stock market.
Also, private companies are eating the share of LIC by introducing innovative
products.

2. ICICI Prudential Life Insurance Co Ltd

ICICI Pru is the biggest private life insurance company in India. It

experienced growth of 58% in new business premium, accounting
for increase in market share to 8.93% in 2007-08 from 6.97% in
2006-07.

Total premium collected increased to Rs 8,305.80 crore from Rs

5,254.64 in 2006-07. Total number of policies sold went up by
49%, from 1,960,034 to 2,913,606 in 2007-08, with a market
share of 5.73%.

Renewal premium had gone up by 101% to Rs.5,526 crore from

Rs 2,751 crore.

The company has 950 urban and 1,000 non-urban branches

across the country. For the first four months of current financial
year, it reported growth of 45.3%.

3. Bajaj Allianz Life Insurance Co Ltd

Total new business premium collected by Bajaj Insurance was Rs

6,491.70 crore in 2007-08.

The company reported a growth of 52% and its market share

went up to 6.98% in 2007-08 form 5.66% in 2006-07. The
company ranked second (after LIC) in number of policies sold in
2007-08, with total market share of 7.36%.
For the period of April – July 2008, total amount of new insurance
premium sold was Rs 1,197.95 crore as against Rs 1,075.93 in the
same period last year, experiencing a growth of 11.35%. Number
of policies sold dropped by around 3%.

Bajaj Allianz Life has a strong distribution network across the

country with over 1000 branches spread over 950 towns.

It plans to raise its capital base by infusing Rs 500 crore in next

few months to support its expansion plans.

4.SBI Life Insurance Co Ltd

State Bank of India has a 74% equity stake and the balance 26%
is held by French firm Cardif SA in SBI Life insurance. The
company broke even in March 2006.

It’s the fourth year of operations. SBI Life leveraged the 14,000-
odd bank branches of its parent SBI to push insurance policies.

The company grew 142.5% in the first four months of the current
fiscal year. Total market share of the company increased from
3.14% in 2006-07 to 5.15% in 2007-08, making it the 4th largest
company in India.

However, in terms of new number of policies sold, the company

ranked 6th in 2007-08. New premium collection for the company
was Rs 4,792.66 crore in 2007-08, an increase of 87% over last
year.

The company this year got approval to open 100 more branches
to sell life insurance products.

5.Reliance Life Insurance Co Ltd

Reliance Life has sold maximum number of new group non-single

policies in 2007-08. It experienced a phenomenal growth of 196%
in 2008.

Total new business premium collected was Rs 2,792.76 crore and

its market share went up to 2.96% from 1.23% a year back. It
now ranks 5th in new business premium and 4th in number of
new policies sold in 2007-08.

RLIC has been one of the fast gainers in market share in new
business premium amongst the private players. It has crossed 1.7
Million policies in just two years of operations, after its takeover of
AMP Sanmar business.

The number of policies sold in the year 2007-08 stood at 10.74

lakh as against 4.51 lakh in the previous year. In a short span of
time, the company accomplished a large distribution set-up by
opening 600 branches in 10 months, taking the overall branch
network to above 740.

6. HDFC Standard Life Insurance Co Ltd

HDFC Standard Life operates across more than 726 cities
and towns of the country. It also has more than 383
corporate agents and other sales intermediaries,
including banks like Union Bank and Indian Bank, for
distribution of insurance products.

The company strengthened its number of offices from

103 to 572 across the country in less than three years.
The company also increased its depth in existing markets
by increasing its financial consultant strength from
74,000 as on March 31, 2007 to 1,45,000 as on March 31,
2008.

The Company generated new business premium income

of Rs 2,680 crore in FY2007-08, registering a year-on-year
growth of 64%. Its market share is 2.88% and it ranks 6
th among the insurance companies and 5th amongst the
private players

Diagrame.

Company Market share

LIC 64%
ICICI Prudential 8.93%
Bajaj Allianz 6.98%
SBI 5.15%
Reliance 2.96%
Others 12%

Company Growth
Lic 5%
Icici prudential 58%
Bajaj Allianz 52%
SBI 142.5%
Reliance 196%
 Webliography

• www.Google.com
• www.irda.com
• http://business.mapsofindia.com/insurance/performa
nce-Indian-life-insurance.html

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