Life insurance industry’s profit doubles to Rs 5,974 cr

Even as premium income fell, the life insurance industry’s net profit more than doubled during 2011-12, at Rs 5,974 crore, against Rs 2,657 crore the previous year. Of the 24 life insurers in business during the last financial year, 14 reported profits, according to the Insurance Regulatory and Development Authority’s annual report for 2011-12. Read more

Insurance News: Indian insurers need more than FDI

India’s proposal to allow more foreign investment in its $41 billion insurance business provides a lifeline for an industry starved  of capital and squeezed by regulation – but it may not pass parliament and it may not be enough.

India’s insurance business was full of promise when it was thrown open to competition in 2000, but has instead been brought to  its knees by losses, regulatory change, uncertainty and a sharp slowdown in economic growth.

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