India a big life insurance market

Mon, 31 Mar 2008

The global life insurance news indicates that several major international life insurance companies are eyeing up India as a life insurance market . The Chairman of the Insurance Regulatory and Development Authority, Mr. Rao, claimed that the rapid growth in the life insurance market would see major direct investment into the region by insurance companies .

Mr Rao was reported in the news as commenting: "Going by the pace of growth in life insurance, we expect that there will be more activity in the form of joint ventures between multinational insurance companies and their Indian counterparts."

Presently, the life insurance market in Indian is growing rapidly, with as many as 41 different companies competing for market share. The Indian regulator said that they were expecting to receive further large-scale applications for licences over the next few years.
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