By Hira Sadhak
Existence coverage in India: possibilities, demanding situations and Strategic standpoint is the 1st booklet on existence assurance within the present context of globalization and financial reforms and strains the interdependence of existence coverage and macro fiscal components. It makes a speciality of structural switch, industry capability and rising demanding situations for the Indian lifestyles assurance and in addition covers the worldwide lifestyles assurance undefined, regulatory regime, and industry pleasant practices in another country. hence it presents a robust perception into rising developments within the existence coverage as an entire.
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Extra info for Life Insurance In India: Opportunities, Challenges and Strategic Perspective (Response Books)
This observation is consistent with the notion that indirect benefits of financial integration which may be difficult to pick up in regression analysis, could be quite important. Globalization of Indian Economy It has been observed that the current world has absorbed the wave of globalization and countries are increasingly getting integrated with the world market through free trade, removal of domestic restrictions on capital movement and switching over to market determined exchange rates. In 1980s, India initiated a move towards closer integration of Indian economy with the global market by removing many restrictions.
This is going to improve in future as noted by Swiss Re (Sigma No. 5/2005) ‘life insurance expected to grow by 8 per cent between 2005 and 2010 (in emerging markets)’. 3 per cent of premium of total emerging market premium. 5 per cent). 7 per cent, respectively. 9 per cent) witnessing continued upsurge in growth rate. Market Reforms and Growth Rates Growth of emerging markets has been strongly supported by market reforms and dismantling or uniting the entry barriers. 9). 9 State and Foreign Ownership, Tariffs and Entry Barriers, 2003 26 LIFE INSURANCE IN INDIA Lebanon Kuwait Turkey Iran United Arab Emirates (UAE) Saudi Arabia Egypt 0 0 0 100 0 69 0 0 64 14 Na <31 0 0 12 0 Na 11 0 52 85 17 97 52 81 Na 0 100 0 75 1 0 0 55 0 0 74 0 South Africa Morocco 53 6 46 0 Poland Czech Republic Hungary Slovenia Slovakia Na Na Russia Source Sigma No.
3. 4. Mobilization of savings from a cross-section of investors. Supporting healthy growth of domestic capital market. Managing risks. Acquisition of information. Mobilization of Savings Life insurance is one of the most important financial intermediary in any financial system and contributes to the development of financial markets—savings and capital markets. As an important financial intermediary, insurance industry particularly the life insurance industry assists in accumulation and reallocation of productive capital in the economy.