MAJOR PLAYERS IN INSURANCE INDUSTRY IN INDIA
| Principles of Insurance | Types of Insurance | Major players in insurance Sector in India |
Till 01.04.2000, Insurance industry in India comprised mainly of only two state insurers namely :-
Life Insurers:
General Insurers:
- General Insurance Corporation of India (GIC) (with effect from December, 2000, it has been made a National Reinsurer)
GIC had four subsidary companies, namely :-
- The Oriental Insurance Company Limited
- The New India Assurance Company Limited,
- National Insurance Company Limited
- United India Insurance Company Limited.
(However, with effect from Dec'2000, these subsidiaries have been de-linked from the parent company and made as independent insurance companies).
IN ADDITION TO ABOVE STATE INSURERS THE FOLLOWING HAVE BEEN PERMITTED TO ENTER INTO INSURANCE BUSINESS :-
LIFE INSURERS
GENERAL INSURERS