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General Insurance Market in India and
The Emerging Scenario.

The general insurance market in India is growing at a very fast pace. The annual growth is more than 20%. This has happened due economic liberalization and due to the entry of private players in the field of insurance in 2001 and afterwards. The 12 non-life players collected Rs.25, 002.00 Crores during the year 2006-07 whereas the figures of last year were Rs.20, 431.00 Crores. That way it is a growth of about 19%. This figure of 2006-07 is 125 times of the figure of business procured in 1973, which was Rs. 200.00 Crores. It was the year 1973 when the Government of India nationalized the general insurance business.

The exact percentage of growth and future potential in this sector can be judged or measured from this fact that today an average Indian spends only Rs.100 for getting the coverage of insurance for non-life products, which includes the health products. If we compare this figure we shall find that this...

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Title: General Insurance
Approximate word count: 5598
Approximate pages: 23 (250 words per double-spaced page)

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