摘要:本文是留学生银行保险业论文,银行开创金融保险业最早出现在十八世纪,一八零六年六月印度国家银行应运而生,它是现存的最古老的印度银行,印度国家银行是归政府所有的银行,同时也是全国最大的商业银行。
lishment of the Oriental Life Insurance Company in Calcutta.
Some of the important milestones in the life insurance business in India are:
1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business.
1928: The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses.
1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public.
1956: 245 Indian and foreign insurers and provident societies taken over by the central government and nationalised. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India.
The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British.
Some of the important milestones in the general insurance business in India are:
1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business.
1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices.
1968: The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up.
1972: The General Insurance Business (Nationalisation) Act, 1972 nationalised the general insurance business in India with effect from 1st January 1973.
107 insurers amalgamated and grouped into four companies viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a company.
Since 1999, when the government opened up the insurance sector by allowing private companies to solicit insurance and also allowingFDIup to 26%, the insurance sector has been a booming market.
REFORMS
The government's policies since July 2004 have been to develop and reform the financial sector; regulate markets and upgrade their organizational and legislative structures, strengthen capital structures of financial institutions and protect investors' rights. The non-bank financial sector reform program consists of two phases; the first phase (2005-2008) and the second phase (2009-2012). The first phase aimed at building financial institutions, ensuring they are soundly structured and subjugated to strict supervision in order to enhance the financial sector's efficiency and ensure its stability and liquidity. As for the insurance sector, this phase aimed at re-structuring the insurance companies by adopting a set of goals as follows:
First: Restructuring State-held Insurance Companies.
This goal was achieved by:
Establishing the Insurance Holding Company.
Merging public insurance companies.
Establishing Misr Real Estate Asset Management Company.
Injecting new bloods to achieve efficiency of management.
Second: Strengthening Legislative S
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