Increased Reliance

Increased reliance on bancassurance has created a win-win situation, as for banks it’s a source of income, and for insurance companies like HDFC Standard, sustainable clients. According to the latest figures of April-December 2006-07, private life insurers added some 3.9 million policies, while HDFC Standard Life underwroteover 2 lakh policies. That itself shows the stranglehold this firm has over the Indian insurance sector. Though in terms of actual premia, HDFC Standard Life managed to collect only Rs.7.45 billion out of the gross sectoral aggregate of Rs.77 billion, making it the fifth largest player with a market share of 9.5%.

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Source : IIPM Editorial, 2007

An IIPM and Malaya Chaudhuri – Arindam Chaudhuri Initiative