Role of Private Companies in Insurance

Compiled by:-Dhrumil ShahSY BBA Div 1

Roll No: 38

Role of Private Companies in Insurance

Major players in InsuranceLife Insurance:• Life Insurance Corporation of India• ICICI Prudential Life Insurance Company Ltd.• Bajaj Allianz Life Insurance Company Ltd.• Birla Sun Life Insurance Company Ltd.General Insurance:• General Insurance Corporation of India• TATA AIG General Insurance Company Ltd.• Bajaj Allianz General Insurance Company Ltd.

Market ShareThe following table shows the decline in LIC

share after theprivate companies joined the market.

Market Share

Case Study: ICICI Prudential Life Insurance Co. Ltd.Joint venture between ICICI and Prudential

plc in 2000Registered office- MumbaiChairperson- Ms. Chanda KochharProducts:

o Savings & Wealth Creation Plans- 7o Protection Plans- 2o Retirement plans- 3o Group Plans- 3

Market ShareThe following shows the amount of

premium(in lakhs)collected by different players in the

Insurance industry.

BibliographyInternational Journal of Engineering

Research & Technology(IJERT)International Association of Satellite

Innovation and Research(IASIR)