
In the last two decades, the Indian insurance market has grown significantly. A number of factors have contributed to this phenomenal growth, including increased awareness and access to insurance products, economic development, and government policies that have supported the growth of the industry. An increase in disposable incomes and a growing middle class have also led to greater demand for insurance products.
In the late 1990s and early 2000s, the Indian insurance market was primarily dominated by state-owned companies such as the Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC), and a limited number of private players.
However, in the year 2000, the government opened up the insurance sector to private companies and foreign investment, which led to an increase in the number of insurance providers and a wider range of products for consumers.
Foreign Direct Investment (FDI) in the Indian insurance industry has been allowed since 2000, with a cap of 26%. In August '15, the Indian government increased the FDI limit from 26% to 49%.
This move was made to provide insurance companies with access to more capital, which is expected to help them expand their operations and to offer more products to customers.
FDI in the insurance sector has helped bring in more capital, technology, and expertise to the Indian insurance market.
Foreign companies brought with them a wealth of experience and expertise in underwriting, risk management, and product development, which improved the overall quality and efficiency of the Indian insurance market. They also introduced new distribution channels and technology platforms, which helped in expanding the reach of insurance products to more people, particularly in rural areas.
この記事は Beyond Market の January 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Beyond Market の January 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン

THE REEL GAMECHANGER
AI is streamlining filmmaking - faster cuts, lower costs, and no drama (except on screen)

DODGING DIPS, CHASING PEAKS
MULTI-ASSET ALLOCATION FUNDS JUGGLE RISK AND REWARD, KEEPING PORTFOLIOS STEADY WHEN MARKETS WOBBLE AND SEIZING GAINS WHEN THEY RISE

MARGIN OF SAFETY: A SHIELD AGAINST MARKET MADNESS
Seth Klarman's Margin of Safety is a masterclass in investing wisely, where patience, independent thinking, and a margin of safety shield investors from market mayhem

BUDGET'S CONSUMPTION PIVOT
The Union Budget FY26 has set the stage for a transition from state-driven infrastructure spending to a model where rising household consumption would kick-start private capex cycle
MOUNTING CHALLENGES
India's economic momentum is slowing due to various factors, leading to a revision of growth estimates by IMF

IMPORTANT JARGON
A PRE-LISTING TRADING PLATFORM IN WORKS TO CURB GREY MARKET

CRACKING THE CREDIT SCORE CODE
Understanding how lenders decode credit scores can help shape loan terms and pave the way for smarter financial decisions

HYPE, HOPE, OR A SOLID BET?
NFOs open new investment opportunities, but careful evaluation is key to ensuring they align with both financial goals and market realities

SHRINKING MARGINS, RISING PRESSURES
Banks grapple with shrinking margins, deposit pressures, and lending shifts as the RBI resets interest rates

CLEAN WATER MEANS BIG BUSINESS
India's water treatment industry is making waves on the back of tighter regulations, green goals, and a growing thirst for wastewater recycling and ZLD solutions