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India :, Financial Sector Assessment Program: Insurance Sector Regulation and Supervision-Technical Note

This Technical Note provides an assessment of the recent development of regulation and supervision of the Indian insurance sector. The sector has continued to grow in scale and diversity, surmounting the adverse impact of the global financial crisis, although penetration remains relatively low. Public sector insurers continue to command a majority of the market and life insurance predominates, with about 75 percent of total premiums. Non-life insurance is dominated by motor insurance. Penetration rates are unchanged from 2011 and generally lower than in comparator countries, especially in non-life. Although traditional sale channels continue to predominate, there is increasing diversity in distribution. Risks in life insurance are relatively well spread and in non-life are mainly short-term
Table Of Contents
Cover -- Contents -- Glossary -- EXECUTIVE SUMMARY -- SCOPE AND APPROACH -- DEVELOPMENTS SINCE 2011 -- A. Developments in the Insurance Market -- B. Developments in Insurance Regulation -- RECOMMENDATIONS -- A. Developing a More Risk-Based Approach -- B. Other Recommendations -- TABLES -- 1. Main Recommendations -- 2. Numbers of Insurance Companies -- 3. Insurance Penetration in Selected Countries, 2015 -- ANNEX -- I. Response to the Recommendations of the 2011 FSAP
Literary Form
non fiction
Physical Description
1 online resource (39 pages)
Specific Material Designation
Form Of Item

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