X hits on this document

PDF document

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY - page 73 / 228

528 views

0 shares

5 downloads

0 comments

73 / 228

ANNUAL REPORT 2007-08

TABLE 47 NEW BUSINESS PREMIUM (INDIVIDUAL AND GROUP) OF LIFE INSURERS FOR 2007-08 CHANNEL WISE (Figures In per cent)

Life Insurer

Individual Agents

Private Total

53.46

Corporate Agents

Brokers

Banks

Others*

18.20

9.92

1.61

Direct Selling

Total New Business (Individual & Group)

Referrals

16.81

100.00

6.96

LIC #

82.68

1.15

0.27

0.05

15.85

100.00

-

Industry Total

72.17

7.28

3.74

0.61

16.20

100.00

2.51

*Any entity other than banks but licensed as a corporate agent.

  • #

    Does not include its overseas new business premium.

Note: 1) New business premium includes first year premium and single premium. 2) The leads obtained through referral arrangements have been included in the respective channels.

The share of corporate agents which was 8.42 per cent in 2006-07 has increased to 12.33 per cent in 2007-08. Within the corporate agency channel, while the banks’ share grew from 5.46 per cent in 2006-07 to 7.97 per cent in 2007-08, the others grew from 2.96 per cent to 4.36 per cent in the

corresponding years. The share of corporate agents in the new business premium procured by the private life insurers was significant at 29.92 per cent in 2007-08 as compared to 24.99 per cent in 2006-07, while for LIC the share fell to 1.59 per cent in 2007-08 from 2.14 per cent in the previous year.

57

57

Document info
Document views528
Page views540
Page last viewedTue Dec 06 07:08:40 UTC 2016
Pages228
Paragraphs23234
Words80831

Comments