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International Journal of Management, IT and Engineering
Year : 2018, Volume : 8, Issue : 1
First page : ( 221) Last page : ( 233)
Online ISSN : 2249-0558.

Big players in life insurance market in India

Lyngdoh Shemphang Wann

College of Vocational Studies, University of Delhi. Email- s.w.lyngdoh@gmail.com, M.no - +91-9818637591

Online published on 18 October, 2019.

Abstract

Big players in life insurance market in India is a study done on 24 life insurance companies in India. Comparison of premium collected, number of policies issued and number of life covered by private life insurance companies and LIC has been done, big market players in life insurance business in India has been found out. Secondary data has been used. There are twenty three private life insurance companies, and their contribution in premium is around R.S 27961.86 crore, they have issued 3275049 policies and they have covered around 63283122 lives. OnePSU. LIC has collected R.S. 77911.72 crore (73.6%) premium amount, issued 9758596 (74.87%) policies and has covered 27960917(30.64%) lives. There are twelve companies have generated more than five hundred crore rupees premium and their sum equal to R.S. 25143.05 crore (89.9% of total private), they have issued 2690280 Policies (82% of total private) and covered 56216396 (88.8% of total private) lives.

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Keywords

Life insurance, Premium, Big players etc.

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