Abstract

http://ssrn.com/abstract=1536067
 
 

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The Impact of LPG on Life Insurance Corporation of India (LIC)


R. Rajendran


Annamalai University

B. Natarajan


Annamalai University

July 31, 2009

Asia Pacific Journal of Finance and Banking Research, Vol. 3, No. 3, July 2009

Abstract:     
The Indian life insurance industry has its own origin and history, since its inception. It has passed through many obstacles, hindrances to attain the present status. The income earning capacity of an individual citizen of a nation and the eagerness and awareness of the general public are the two key determinants of the growth of any insurance industry. For that they should provide wider and mass-employment opportunities and sound educational system. More over, the general public must be inculcated with more knowledge, awareness and importance about life insurance, and these steps help to boost the growth of insurance industries. In this Indian context, the insurance habit among the general public during the independence decade was quite rare and in the following decades, it slowly got increased. There was a remarkable improvement in the Indian insurance industry soon after the acceptance and adaptation of Liberalization, Privatization, and Globalization (LPG) in the year 1991. After 1991 the Indian life insurance industry has geared up in all respects, as well as it is being forced to face a lot of healthy competition from many national as well as international private insurance players. The fall in the savings rate and increased competition in the primary market and particularly the aggressive mobilization by the Mutual Fund posed serious challenges before LIC.

Number of Pages in PDF File: 12

Keywords: life insurance, LPG, Liberalization, Privatization, and Globalization, savings rate

JEL Classification: G22

Accepted Paper Series


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Date posted: January 19, 2010  

Suggested Citation

Rajendran, R. and Natarajan, B., The Impact of LPG on Life Insurance Corporation of India (LIC) (July 31, 2009). Asia Pacific Journal of Finance and Banking Research, Vol. 3, No. 3, July 2009. Available at SSRN: http://ssrn.com/abstract=1536067

Contact Information

R. Rajendran (Contact Author)
Annamalai University ( email )
Annamalainagar
Chidambaram, Tamil Nadu 608002
India
B. Natarajan
Annamalai University ( email )
Annamalainagar
Chidambaram, Tamil Nadu 608002
India
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