Released on = May 23, 2006, 2:17 am

Press Release Author = RNCOS

Industry = Financial

Press Release Summary = RNCOS Research: (http://www.rncos.com/Report/FM004.htm)
Faced by stiff competition from private players, the government life insurance
company gearing up to meet the new challenge.

Press Release Body = RNCOS Research: (http://www.rncos.com/Report/FM004.htm) In
order to interact more with the masses and to propagate cognizance, Life Insurance
Corporation of India has started out on a journey across the country by railroad
train. This marathon journey will help LIC to communicate with the common people and
impart a better understanding about the services and schemes they offer.
Professionals from the insurance sector anticipate LIC to introduce reasonably low
cost insurance plans for people from the weaker sections and the rural community of
the country.

According to the chairman of LIC, they have already requested the Insurance
Regulatory Development Authority's (IRDA) permission to commence upon a micro
insurance scheme targeting the countryside or village business hub.

Furthermore LIC has exhorted the government to permit it to collaborate with several
other general insurance companies to achieve this end. The insurance company has
already started marketing its latest offerings in life insurance coverage, post
retirement income schemes, and retirement funds.

In its very first year LIC managed to sell 3.2 crore policies, with its revenue from
premiums rising by 47% to reach the Rs.18, 000 crore mark, whereas the last year's
premium income stood at 12,200 crore. In 2004-05 the company could sell only 2.4
insurance policies. The insurance company has posted a net income of Rs. 5,780
crores right through 2005-06.

The latest market research report by RNCOS titled, "Indian Insurance Industry
Forecast (2007-2009)" provides a clear perception of the nascent developments and
the upcoming projections. The report addresses major issues affecting the sector in
detail.

The major areas of interest and opportunity in the report "Indian Insurance Industry
Forecast (2007-2009)"are:
· Overview of the international insurance sector
· The Indian insurance sector as seen from an international viewpoint
· Detailed assessment of the main competitors in this sector with the aid of tables
and graphs. Future projections, prospects and obstacles faced by the major companies
in the Indian insurance sector are also discussed.
· Latest drifts and progress in the Indian insurance sector.
· The main motivating influences in the insurance sector in India
· In-depth company study of the key competitors in the insurance industry in India

There are total 15 contenders in the Indian insurance sector. Almost 72% of the
total market is controlled by the Public Sector Life Insurance Corporations. Insight
into the major contenders in the Indian insurance sector is also provided in the
report.

About RNCOS:
RNCOS, formed in 2002, offers Market Research Reports for your business needs and
aims to put an end to your information pursuit. Our expertise in gathering global
business information for industry research, corporate training, growth consulting,
and business consulting, brings reputed companies and firms to us for business
enhancement solutions. We can be your one-stop-shop for Industry research
information and niche market analysis.

To purchase your copy: http://www.rncos.com/Report/FM004.htm
For more information about the report please visit www.rncos.com


Web Site = http://www.rncos.com

Contact Details = RNCOS
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial area, Delhi 92
91-11-4214-1229
info@rncos.com