project report on life insurance corporation of india

7385 WordsSep 25, 201330 Pages
MINOR PROJECT REPORT MARKET POTENTIAL OF LIFE INSURANCE CORPORATION OF INDIA SUBMITTED IN PARTIAL FULFILLMENT FOR THE AWARD OF THE DEGREE OF BACHELOR OF BUSINESS MANAGEMENT (BBA) GURU GOBIND SINGH INDRAPRASTH UNIVERSITY, DELHI SUBMITTED TO: SUBMITTED BY: Mr.Paramvir Kuhar Ashish Singh (FACULTY MSI) BBA (Gen) Enrollment No. 02421201710 INTRODUCTION INTRODUCTION Insurance is a social…show more content…
with head offices at Calcutta, Bombay, New Delhi and Madras, respectively. General Insurance Corporation (GIC) which was the holding company of the four public sector general insurance companies has since been delinked from the later and has been approved as the "Indian Reinsurer" since 3rd November 2000. The share capital of GIC and that of the four companies are held by the Government of India. All the five entities are Government companies registered under the Companies Act. The general insurance business has grown in spread and volume after nationalisation. The four companies have 2699 branch offices, 1360 divisional offices and 92 regional offices spread all over the country. GIC and its subsidiaries have representation either directly through branches or agencies in 16 countries and through associate! locally incorporated subsidiary companies in 14 other countries. A wholly- owned subsidiary company of GIC, i.e. Indian International Pvt. Ltd. is operating in Singapore and there is a joint venture company, viz. Kenindia Assurance Ltd. in Kenya. A new wholly owned subsidiary called New India International Ltd., UK has also been registered. NEW INSURANCE SCHEMES Universal Health Insurance Scheme The Universal Health Insurance policy is available to groups of 100 or more families. The policy provides for reimbursement of medical expenses upto Rs.30000/-

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