Date:19/12/2005 URL: http://www.thehindubusinessline.com/2005/12/19/stories/2005121901531200.htm

Back Room for more insurance players: IRDA

Our Bureau

Hyderabad , Dec. 18

DESPITE 14 players operating in the Indian life insurance arena and another 14 entities in the general insurance business, the country still has substantial potential for many more new insurance players owing to the highly untapped market, according to the Insurance Regulatory and Development Authority (IRDA).

As a result of the Indian insurance industry being thrown open for private players, the aggregate premium income levels of the industry has grown from around Rs 9,700 crore in 2000-01 to over Rs 25,000 crore in 2004-05, reporting an average annual growth around 30 per cent, the IRDA Chairman, Mr C.S. Rao, said.