Analysis of Insurance Industry A Study of Life and Non-Life Insurance Business

Siddela Narender, Gaddala Raja

Abstract


This paper mainly focused on insurance real premiums business with various regions and countries, life insurance and non-life insurance density, life insurance and non-non-life insurance penetration correlation between segmentation. A well-developed and evolved insurance sector is needed for economic development as it provides long term funds for infrastructure development and at the same time strengthens the risk taking ability. It is estimated that over the next ten years India would require investments of the order of one trillion US dollar. The Insurance sector, to some extent, can enable investments in infrastructure development to sustain economic growth of the country. Insurance is a federal subject in India. There are two legislations that govern the sector- The Insurance Act- 1938 and the IRDA Act- 1999.



Keywords


Life Insurance, Non-Life Insurance, Density, Penetration.

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