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Life insurance penetration in India dipped in 2007, first time since the sector was opened up for private players a decade ago, said the country's Economic Survey for 2008-09 released here Thursday.
"The life insurance penetration in India increased from 1.77 percent in 2000 to 4.1 percent in 2006, before declining to 4 percent in 2007," the survey tabled in parliament by Finance Minister Pranab Mukherjee said.
Similarly the general insurance penetration rose from 0.55 percent in 2000 to 0.6 percent in 2006. It remained at the same level in 2007, the survey said.
It added that the total premium underwritten by the industry in the life segment grew from Rs.156,076 crore in 2006-07 to Rs.223,053 crore in 2008-09.
The life insurance density, which is premium per capita, stood at $40.4 in 2007 as against $33.2 in 2006 and $7.6 in 2000, the survey added.
Last updated on Jul 2nd, 2009 at 19:30 pm IST--IANS
Delhi Metro's Noida link may be opened to the public Nov 13, if necessary safety checks are complete, a Delhi Metro Rail Corporation (DMRC) official said Saturday.
Incessant rain in Tamil Nadu over the past few days has not only thrown life out of gear in the state but also sent vegetable prices soaring. Thirteen people have died due to wall and roof collapse or electrocution so far.
Discussing a report by software industry group Nasscom which says that 75 percent engineering students in India are unemployable, education experts here Saturday said that the Indian higher education system must give skill building and practical training equal importance as academics to give them an edge.
Bangladesh Prime Minister Sheikh Hasina has sought a road to Bhutan through India for bettr trade and people-to-people contact. She told her hosts at this Bhutanese capital that India had accepted the idea in principle.
The European chief of General Motors (GM), Carl-Peter Forster, may switch to Indian car manufacturer Tata, German media reported Saturday.
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