Ad Here  
November
December
January
February
March
April
 
 
A glass full of corruption Maximising the micro pricing … Airlines in India: cost and space For whom the MIDS bell tolls? The rise and fall of Annamalai University Paytm karo... This scant respect for Law Kudos to NDTV... GM Technology at last! Liberal imports idling indigenous capacities Streamlining mandatory third party cover No engine for this car When the President was rendered homeless… Adharma of opposition politics EEC at the National Media Centre Sweeter prospects for sugar Tatas moving out of urea production... The ‘Jayanthi Tax.’ Where is Rajaji? Permanent secretariat for TN GIM Multi-faceted Venkat More heat than light Plummeting profits of PSBs Sri Lanka votes for change Like Hinduism: many paths to reach God... A proud Madrasi New IT products of Ramco in the pipeline… Cement prices continue to rise… All eyes on Sankara Nethralaya Don’t seem to feel the pulse… The why of tax incentives TN accounts for the largest recruits by the IT sector Diamond jubilee of Egmore Samskrt School TGS- The king storyteller Five star activism stalls development activity Mu Sigma – is no more The Jan Dhan bonanza Air Asia India will set new benchmarks for budget travel Contrarian cousins Rahman at CIC Cutting the nose to spite the face ONGC at KG Basin CRS, a jewel among managers, is no more. Quality education through the PPP mode Noble nonagenarians... When online building permits work…. Readers' Mail The star of Spencers is no more Tax agriculture F C Kohli - his concerns all embracing Godspeed, Chief Minister JJ S V Raju – a ‘good’ true liberal Gay abandon in pricing Haul over the coal Music happens Kinetic Karnataka Online not in line with brick and mortar businesses... A think tank for Chennai Moily’s bold thrust CSR and CMI: promise of another Srinivasan Ramanujan... Alexa – Talking Wikipedia Whistle-Stop Tour of Raghuram Rajan CII projects higher growth… Sweet news for TN sugar mills PC’s preference for professionals Welcome thrust on trade in Modi’s foreign visits... Wise Presidents More Shakti to resource mobilisation... No Maha Koottani in TN... Delhi is distant… Land reclamation from sea appears cheaper! An enemy’s enemy is a friend Revving up the manufacturing sector IPL type auction for VCs? Fuel for thought S Ramanathan – a versatile musician, musicologist Limit foreign borrowings to hi-tech, export potential projects... Strengthen the base... The Swadeshi Trump Small units prefers to remain small... Quality silica from Neyveli Why this malaise in medical education? For whom the bell tolls? Not just in-laws (and outlaws); they’ve renowned academics at the helm! An inexplicable neglect Of course, Gujarat is vibrant Poor quality of university VCs Tatas moving out of urea production... Modi and the lady WTO Meet: resolved to meet again Wanted: a second airport for Chennai Editor's Notes Preserving for the future The Ports’ Pasha expands into Tamil Nadu A Grand Finale for SN’s MS centenary at the US… How Air-India loses customs... A welcome initiative by the judiciary Which side are you, Montek? TIAM turns a full cycle Focus on quality of power - its only around 170-180V When nations steal growth from one another… A rich pool of talent not utilised…. Road development slows down Put expensive assets created to use... Odisha: spectacular win by Naveen Patnaik The brown list of Venkitaramanan to the lack of interest on the part of these to focus on original research. This despite the much lower costs of such research in India. The industry which thrived on the protection of a closed economy and the advantage of a vast domestic market, has failed to organise its evolution on healthy lines Gas is the way forward West Bengal: mindless malignancy Tribute – Manikam Ramaswami The Gulf aviation boom Silver Years of Madras Musings When TN politicians can emulate Kerala's A C Muthiah – his munificent bequeaths to science …and of a popular trade leader Demise of a media baron... Infrastructure funding – lessons learnt Auto components surge… L&T: focus on infrastructure and more infrastructure… Revive development banks... Align crops to agro climate endowments… Tough task taking states together EVM is tamper-proof Computation of GDP – conundrums continue Towards speedy justice The rise and rise of KCP Make standards certification mandatory... Medical costs hit the roof... Where a state respects its litterateurs… Breaththrough in malaria control Shipping woes of Chennai companies Solar, solar everywhere … CIPET hqrs to stay at Guindy – for the present? Fortune 500 review Reliance’s TV – 18 ready to launch Tamil News Channel Recognition to role of NBFCs.... Tribute – M V Murugappan Bihar – Nitish Kumar adopts the Lalu model Nuclear power at the nucleus Convulsions in The Hindu PPP mode for upgrading Corporation Hospitals London, London Narayan Waning interest in public discussions… Protest masters... Delhi returns to BJP Boy, can you beat these? Delhi Chalo... No mega rail project for Tamil Nadu Lesson from Chandrababu Naidu SoA @ 80 R Sridhar steps down as CEO of Shriram Capital Fall in crude prices help in oil sector reform Building loyalty through the stomach Parliament in paralysis... Cleaning Ganga – relocate tanneries and install electric crematoria Colour-Chem’s colourful KRVS A friendly business group Come elections, come advertisements... Lalu’s envy, India’s pride Eternal support for capitalisation of PS banks The few handicaps... Muffled voices for merit… TELANGANA at last…BUT A Grand Finale for SN’s MS centenary at the US… Naidu will soon build a new Hyderabad Insurance companies bleeding, yet no decision on increasing FDI limit! TN – agglomerate land holdings without alienating ownership Excel Generators provide the vital back-up Chennai and Kolkata miss opportunity to grow as Delhi and Mumbai Bihar elections - the Rajaji formula worked Valli, they are more marginalised Delhi is distant Shaming of Tamils by Tamil farmers at Delhi Secularism and anti-Hinduism Tihar, Puzhal not different from Parappana Agrahara When small is no larger beautiful.. Increasing non co-operation of state leaders Welcome changes that testify to Jayalalithaa’s return to health A yen for wastage… Scientists urged to take up farmer-oriented research Mersal magnified Shanti and Sadhana through Music Inflation: are we emulating Argentina and Brazil? Welcome focus on core competence Polls and promises Funding the un-funded Remembering Indira Sivasailam... B H Kothari - a tribute Banning booze... The power-full Hindujas Solar thermal shines… Russi Mody – a tribute TN-leverage strength of BHEL, NLC... Intellectual of rare qualities A more liberated TN… Editor's Says Why land prices zoom in TN? Adapt Vajpayee dinner diplomacy Telangana in top gear… An informal presentation - analytical, forward locking... Tribute – UCAL Selvan… Discoms deserve better… Kulandai was a giant Should we change the official year? More tributes to GR Naidu’s return augurs well for Seemandhra When Ratan Tata visited SRM Modi storms Silicon Valley IAS invades NDDB... Fortune for Indian Airlines He saved millions from starvation... IPL - no surprise this scam The ‘Ayyo-yes’ is no more A professional at the helm of IRDA... Roaring Ro-Ro facility Rs.1600 crore paper board plant of TNPL Things happen by accident and not by design... Another Indian music maestro at the UN Poor representation for Kerala and TN in Cabinet China invests in India L&T- the specialty of special purpose vehicles Build close rapport with business leaders Varuna (rain) in 2015; Vaayu (air) in 2016. Chennai devastated Padma Bhushan for A Ramakrishna Marketing expert Balagopal is no more Engineering seats go abegging MHC should not return to its old indisciplined ways GNS - 100: our first subscriber Pharma – overdose of copying Dr C Rangarajan returns to Chennai Vibrant Gujarat There was flood of milk. Reason: no milk commissioner! Tribute Making ‘my Amaravati’... Shale gas and its shallow future Welcome GST Measuring roof tops in terms of KW/MW The sea- saw battle continues... Return to king coal for urea... The nuclear option The balancing act Robber barons everywhere More Shakthi to Das’ elbow He continues the focus on social amelioration
 
Insurance companies bleeding, yet no decision on increasing FDI limit!

The delay in clearing the proposal to increase the limit for foreign equity in insurance companies to 49 per cent is costing the country dear. A similar move in regard to civil aviation has evoked a lot of interest on the part of foreign airlines to invest in India.

In the 12 years after opening up the insurance sector, a large number of players have entered the business. Today, there are 24 life insurance companies and 27 general insurance companies. Though several general insurance companies have become viable, life insurance companies are bleeding; a few, which entered the Indian market with a lot of expectation, like New York Life and ING have quit. HSBC Life and Aviva are likely to follow suit.

Padma Bhushan R Thyagarajan (RT), an expert on insurance, estimates the total loss suffered by life insurance companies at around Rs 25,000 crore. At the present rate, RT expects these companies to suffer an additional loss of Rs 20,000 crore in the next few years. This may trigger more foreign companies to quit.

It is baffling that a government so keen to attract foreign direct investment should be unconcerned over inviting foreign insurance companies to take care of this burden. There has been tremendous interest on the part of foreign insurance majors to enter India and tap its huge potential, especially in the context of the very low penetration and consciousness for insurance.  The opposition from BJP’s Yashwant Sinha and S Gurumurthy is indeed sad. A decade ago, while BJP was in power, they wanted to leverage the power to limit investment in insurance to counter some of the unhelpful postures of WTO. A decade later, this posturing does not make sense.

 

Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com