npavan78
24-06-2008, 02:02 PM
General Insurance has been a hot topic in India for quite some time now, as this industry is sky rocketing in terms of market value. India was introduced to the concept of insurance very late as compared to rest of the world, but has caught up very fast and with new branches of insurance opening up, this sector is expected to reach an all time high this year.The general insurance sector rose at a rate of 13 percent last year, but according to the General Insurance Council of India, it is expected to grow at a massive rate of 18 percent this year. This is a remarkable growth and various factors have added on to achieve such impressive results.
The key driver for this growth would be health insurance which grew at 57 percent last year. This year, general insurance would add an extra 5 percent to the existing 13 percent growth rate of the sector. Other factors which added on to the growth was the deeper reach of insurance facilities to the rural India.
The key driver for this growth would be health insurance which grew at 57 percent last year. This year, general insurance would add an extra 5 percent to the existing 13 percent growth rate of the sector. Other factors which added on to the growth was the deeper reach of insurance facilities to the rural India.