• Dr. R. Hepsiba

GIC used to sell non-life insurance products and related services. GIC had been operating through its four subsidiaries – National Insurance Company Limited, New India Assurance Company Limited, Oriental Insurance Company Limited, and United India Insurance Company Limited. In November 2000, with the liberalization of the industry, GIC became a national reinsurer, the official body for undertaking reinsurance business for all private and government organizations in the insurance industry. Many private players had entered the general insurance market, which led to a significant increase in competition. Competition was expected to be more intense in the non-life segment than the life segment, as the term of the non-life policies was very short and customers could switch on to the companies basing on the basis of priority.

liberalization, national reinsurer, reinsurance business, life segment

"A comparative study on business services offered by public sector insurance players in non-life insurance market in visakhapatnam", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 11, page no.b399-b406, November-2021, Available :http://www.jetir.org/papers/JETIR2111150.pdf

"A comparative study on business services offered by public sector insurance players in non-life insurance market in visakhapatnam", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 11, page no. ppb399-b406, November-2021, Available at : http://www.jetir.org/papers/JETIR2111150.pdf