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What is History and Regulation of Insurance in India about?

The insurance industry in India originated with bottomry bonds and burial societies, and was later established in the 19th century by British companies. In 1956 and 1972, the life and general insurance industries were nationalized, forming LIC and four public sector general insurers. Financial reforms in the 1990s opened the industries to private and foreign players. The IRDA was established in 1999 to regulate the insurance sector. Currently there are 24 life insurers including LIC, and 27 general insurers

Author

Saravana Kumar Papanaidu

Language

EN