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IRDA sees 2009 as year of consolidation for insurance industry
http://www.indianinsurance.com/forum...read.php?t=296
The above news on the direction of the Indian insurance sector in 2009 points to overall consolidation in the insurance industry in India, triggered by the global credit crisis.
What are your thoughts and opinions?
Found below interesting recent news items on the Indian Insurance industry. Continuing analysis as the where the industry is headed in 2009 and IRDA's perspective of 2009 as year of consolidation for Indian insurance industry .
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Shikha Sharma, the managing director & CEO of ICICI Prudential Life Insurance, the largest private sector life insurance company, says Indian Insurance sector may shrink 10% in 2009.
http://www.indianinsurance.com/forum...read.php?t=472
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Star Union Dai-ichi Life Insurance (SUD), the twenty-second life insurance company in the country to be floated and approved by IRDA. Company officials were quoted as saying they will break even and post profit with 5 years.
http://www.indianinsurance.com/forum...read.php?t=683
Tough life ahead for life insurers in 2009 - The Economic Times headline says it all.... what is your opinion?
http://www.indianinsurance.com/forums/showthread.php?t=751
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IndianInsurance Opinion:
Indian Insurance Industry with all the progress and growth achieved post-IRDA, it can still be considered nascent and in infancy. Considering the ongoing credit crisis affecting many domestic insurance companies in India, for the Indian Insurance industry to sustain a healthy growth rate, consolidation through Mergers & Acquisition (M&A) is the only viable route going forward. I am however not certain how this would play out, but M&A and capital fortification separated on the lines of public sector insurance companies and private sector insurance could be one of the many scenarios.
If the Asian tiger economies of India & China will be last growth engines for the post-credit crisis world, the Indian Insurance industry will sure ride the wave going forward. Let us wait and watch and hope for the best.
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Another headline pointing towards the trend for 2009, M&A is needed to keep the Indian Insurance Industry fit and healthty beyond 2009.
More pvt life insurers freeze branches
http://www.indianinsurance.com/forum...read.php?t=824
ICICI Prudential, Bajaj Allianz, Max New York Life, Kotak Life and Reliance Life are closing branches...
Profit and Loss of Indian Insurance Companies in 2007-08
http://www.indianinsurance.com/forum...read.php?t=834
Life insurance sector in the red in 2007-08, General insurers fare better; profits slump 80% for pvt players.
All indicators point a more red ink in 2009 and 2010 for Indian Insurance sector , what do you think?
Despite a difficult year in 2009 with respect to claims and its foreign promoter AIG’s financial woes due to the global meltdown, Tata-AIG General Insurance CEO and managing director Gaurav Garg remains confident of a strong showing next year. Read on...
Private insurers will report double-digit growth in FY10
http://www.indianinsurance.com/forums/showthread.php?t=867
Do you see the picture getting better 2010 and beyond?