private insurance

Private life insurance companies who refused to look at a new business in August last year, when the new unit-linked insurance plan Ulip) on the guide, we hope that the good numbers this month.

"September, we expect the positive development of the industry is facing slow growth since August last year compared to the figures, we see signs of growth ahead," said GK Agarwal, chief actuary, Future Generali Life Insurance Co.

According to a report by JP Morgan, 26, and the capital markets in August and the inertia of the life insurance business in the coming months.

"Last year was a steep decline in business directly affect the allocation of certain amounts paid Ulip settlement of September 2010 to August 2010. Thus, a strong annual growth since October 2011. Can not wait," said a report on the growth of the insurance companies usually July and August are slow compared to the previous two quarters.

"New Business Premium is generally cyclical in July and August are slow and the end of the fourth part of a larger, because these companies use incentive plans, the youngest," says Anisha Motwani Director and Chief Marketing Officer, Max New York Life Insurance Co. (MNYL) .

Private insurance companies feel Ulip regulations are the main reason for the decline annual premium equivalent (APE), and new business premium for life insurance by 38%.

"Since that time, and that the adjustment variable to the top of the market trend in the insurance market," says Motwani MNYL.

This is month to month basis, new business in life insurance premium by 10% in July, when state-owned player, LIC, 77% - can be seen.

However, the first Premium Collection from 28.36% in aprill-June 2011 compared to same period last year.

Insurance companies to lower agent commissions Ulips serious concern is the new business. Industry that is focused on the sale of traditional products.

"This sector is almost 60% - 70% of the company using Ulips: If Ulips help our business, it is clear that the field has grown to be overcome," said Agarwal Future Generali.
By JM Financial Transactions.

Life insurance business on 26 August's largest life insurance companies with a significant reduction in new business fees, except MNYL marginal decrease of 5% per year, you see. According to the report, and ICICI prudential life insurance trust was based on market share losers Ape, that the registration was 6.6% and 4.9% respectively.

Regulation of pension products.

"Another reason is the reduction of new business premium pension products declined in 2010," says Motwani.

Pension products have lost their luster indicates the position of September 2010. Extended session where the goal is to provide a guaranteed minimum return of 4.5% of total pension and annuity products.

Insurance regulatory authority, the product of the pension plans earlier this month to remove the guaranteed income. Insurance companies have shown a mixed group.

An insurance agent has been suspended.

Ever drop out of private insurance agents that are also very important to the industry. At the national level, studies have shown that the downtime has increased 25% in the current fiscal year.