Revista Internacional de Economía y Ciencias de la Gestión

Imperative Enablers for Private Life Insurance Companies in India

Abstract

Nilofer Hussaini

India is no doubt a growing economy and many consider it an attractive country to invest in, particularly in its rapidly growing and changing
insurance market. Indian insurance industry is one of the sunrise sectors with huge growth potential. Foreign direct investment plays an
important role in the economic development of the country. Insurance companies in India’s nascent insurance industry are eager to get more
foreign capital to grow their businesses. If they could raise fresh capital from overseas partners and use that to expand, they could
become profitable sooner. Foreign companies such as the U.K.’s Standard Life PLC and Prudential PLC, Germany’s Allianz SE and
MetLife Inc. of the U.S. are among the companies which operate in India. If they beefed up their Indian units, it could threaten the dominance of
state-run companies in India’s insurance sector.
This paper discusses the imperative enablers of private life insurance companies in Indian economy by analysing various
parameters like the insurance penetration and insurance density increased foreign capital inflow, job employment opportunities and level
playing field.