Performance Analysis of Life Insurance Industry in India: West Bagalkot District Dr. Aralelimath S. S.1, Daga Chetan2,* 1Retd Professor, SSS Samiti College of Commerce, Belagavi 2Research Scholar, RCU, Belagavi *Corresponding Author Email: cdaga33@gmail.com
Online published on 3 February, 2020. Abstract Indian economy and industry has undergone significant transformation since 1991-moving away from state controlled to a competitive market economy. The most remarkable of this transformation has been noted in the financial sector, particularly, in the Indian Insurance Industry which has opened up to all competitors-integrating financial services to the global economy. IRDA was established in 1999 to protect the interest of policyholders for promoting and ensuring orderly growth of the insurance industry and for matters connected therewith and also to amend the Insurance Act 1938, LIC Act 1956 and G.I. Business Act 1972. Under IRDA Act, 1999, Indian Insurance company means, any insurer being a company which is formed and registered under the companies Act, 1956, in which the aggregate holding of equity shares by a foreign company do not exceed 26% paid up equity capital of such Indian Insurance company and whose sole purpose is to carry on life or general or re-insurance business. Enhancement of this 26% to 49% is at higher level discussion stage. Top Keywords Performance, Life Insurance, West Bagalkot. Top |