Impact of Global Financial Crisis in the Life Insurance Sector in India

19 Pages Posted: 13 Jul 2010

See all articles by Dr. Amlan Ghosh

Dr. Amlan Ghosh

NIT Durgapur, India; IBS Hyderabad; Sikkim University

Date Written: March 23, 2010

Abstract

The impact of the recent global financial crisis on the life insurance business felt after the American International Group (AIG) and Fortis required bailouts due to their financial ill health. India cannot be insulated from this impact as these insurers are having joint ventures in India. This has changed the perception of investors towards the private life players in India. This paper highlights the impact of this financial crisis on the life insurance sector in India and tries to learn the post crisis consumers’ investment behaviour towards life insurance.

In this occasion, this paper investigates the proposal by the High Level Committee on Financial Matters (HLCCFM) on minimum common standards for financial intermediaries and finds financial education is the most important factor and suggests few recommendations for the overall development of the life insurance sector in India.

Keywords: Insurance, life Insurance, Financial Education, Financial Crisis

Suggested Citation

Ghosh, Dr. Amlan, Impact of Global Financial Crisis in the Life Insurance Sector in India (March 23, 2010). Available at SSRN: https://ssrn.com/abstract=1639122 or http://dx.doi.org/10.2139/ssrn.1639122

Dr. Amlan Ghosh (Contact Author)

NIT Durgapur, India ( email )

Durgapur
India

IBS Hyderabad ( email )

Donthanapally
Shankarapalli Road
Hyderabad, TX 501203
India

Sikkim University ( email )

6th Mile
Gangtok, 737102
India

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