Released on = June 10, 2007, 10:25 pm

Press Release Author = Shushmul Maheshwari

Industry = Industrial

Press Release Summary = Recording a growth of 49% in the first month of this fiscal
year (2006-07) in new businesses, the life insurance industry in India is all set to
grow at an exponential pace in the near future.

Press Release Body = As per a recent report “Indian Insurance Industry
Forecast (2007-2009)” published by RNCOS, it has been found that “Life
insurance market in India will likely reach around Rs 1683 Billion by the year 2009.
Changing consumer behavior, GDP growth rate, changing socio economic demography, and
natural calamities occurring from time to time will remain the key contributors in
this growth.”

April 2007, current FY’s first month, saw new businesses expand by 49%,
whereas general insurance players witnessed 16% increase during the same month.

Outstanding performance of SBI Life, ICICI Prudential, and LIC helped the Indian
life insurance industry in mopping up almost Rs 2,892 crore in April this year,
whereas it was Rs 1,996 crore in the same month last year. On the other hand,
Reliance Life, ING Vysya, and Bajaj Allianz were amongst those insurers that came
across a decline in their premium collection over the review period, as per the data
compiled by Insurance Regulatory & Development Authority.

Selling almost 15,89,684 policies during this April, LIC - the largest life insurer
in India -witnessed 57% growth in its new premiums that reached to Rs 2,134 crore.
LIC grabbed a market share of almost 71.56% during this April. Non-life or general
insurance industry saw a growth of 16% during this month, and ICICI Lombard was the
second largest player in this segment. Business Standard published this in news on
14 June 2007.

Looking at the current scenario, it can be made out that the four established
public-sector players namely, National Insurance, United India, Oriental Insurance,
and New India Assurance, may have to face stiff competition from private players
like Bajaj Allianz, Reliance General, and ICICI Lombard, as per Business Standard.

According to RNCOS report “Indian Insurance Industry Forecast
(2007-2009)”, “Performance of life insurance industry remained better in
comparison to non life segment over the five year period spanning 2001-2005. Some
qualitative factors, like the deregulation rate of insurance market, and
implementation rate of technologies prevailing in the market, need to perform up to
the industry expectations in order to improve the growth rate of Indian life
insurance market.”

This report provides an objective analysis of all aspects of Indian insurance
industry. The issues addressed in this report include: prospective investment areas
in Indian life insurance industry, market strategies adopted by key players in this
segment, opportunities and challenges present in this industry, and so on.

About RNCOS E-Services Pvt Ltd.:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today\'s globally competitive environment.

For more information visit: http://www.rncos.com/Report/FM004.htm
Current Industry News: http://www.rncos.com/blog


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

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