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MAJOR PLAYERS IN INSURANCE INDUSTRY IN INDIA

Till 01.04.2000, Insurance industry in India  comprised mainly of only two state insurers namely :-

  Life Insurers:

• Life Insurance Corporation of India (LIC)

 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 :-

1.     The Oriental Insurance Company Limited
2.     The New India Assurance Company Limited,
3.     National Insurance Company Limited
4.     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