More global insurance players eyeing Indian market' - G. Naga Sridhar Hyderabad , March 30 Global insurance majors are increasingly looking at the Indian market to foray or expand further, according to Mr C.S. Rao, Chairman, Insurance Regulatory and Development Authority (IRDA). "Going by the pace of growth in life insurance, we expect that there will be more activity in the form of joint ventures between multinational insurance companies and their Indian counterparts," Mr Rao told Business Line here. IRDA has issued primary licences to three new joint ventures in life (Aegon Religare, Canara Bank-HSBC-OBC and DLF Primerica) and one in non-life (Bharti AXA). "This completes the second phase of interest of global players in our insurance sector. The third phase will now begin and there will be more action," Mr Rao said. At present, there are 41 players in insurance, including 21 in life sector, the LIC being the lone public sector firm. Private p
Life Insurance in India