Kolkata: The insurance market has grown rapidly following liberalisation in 2001, feel major public sector companies. Speaking at the third insurance conclave organised by Federation of Indian Chambers of Commerce and Industry, Mr M Ramadoss, chairman and managing director of The Oriental Insurance Company said: "Whereas the gross direct premium of general insurance industry has gone up by Rs 2,000 crore from 1997 to 2000, it has grown by Rs 20,000 crore in the period between 2002-08," he said.
He, however, pointed out that general insurance has done poorly compared to life insurance.
Mr G Srinivasan chairman and managing director of United India Insurance Company Ltd, felt that liberalisation had created an environment where the industry could reach its full potential.
Source: The Statesman
Friday, May 30, 2008
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