Insurance Company Case Study and Analysis

amends friendship Case Study and psychoanalysisThis lifespan-time redress policy Comp all Ltd. is one of the famous restitution companies in India gloweringering various effective life insurance policy policies. This look Insurance Company Limited is often k forthwithn as Tata AIG carriage. This brio is a joint venture of the Tata Group and American world-wide Group, Inc. (AIG). Offers many ensample custom made life insurance policies. It is one of the oldest and trail trade root of India. Tata group has a long association with Indias insurance field being the largest insurance company in India prior to the nationalization.American International Group INC is leading US board International insurance pecuniary service organization this Life Insurance Company Limited or this insurance company brings to you a wide choice of life insurance policies for individuals, small and large business industries and for ventures. Apart from these, the company too provides su pernumerary life insurance coverage to assure the clients an insurance policy designed for them.The Tata Group holds 74 % stake in the insurance venture with AIG holding the rest 26%. Tata AIG Life provides insurance solutions to individuals and corporeal sectors. This Life Insurance Company received license for operating in India on February 12, 2001 and started its trading operations on April 1, 2001.CEO of TATA -AIG is Mr. Ian J. Watts Joydeep K. Roy, the alternative channels.The various life insurance policies and go offered by the Tata AIG Life include-For individualsLife wellness FirstMahaLife goldLife Invest ensure PlusLife Invest command IILife Health ProtectorLife Invest Assure C beLife Invest Assure currencyLife Health InvestorLife Invest Assure ExtraLife PlusLife Shubha LifeLife Easy RetireLife Assure security measure Growth PlanLife Assure Money SaverLife RaksaLife Assure Golden PlanFor ChildrenLife Assure 21 years Money SanchayLife Assure Career BuilderLife St ar kidLife Invest Assure PlusLife Assure Educated at 18Retirement PlansLife paradiseLife Easy RetireLife Invest Assure GoldCorporate life insurance products offered by this Life Insurance Company Ltd-The Tata AIG Life Insurance Company Limited also offers various corporate life insurance products that include Group PensionEmployee Benefitpiece of work SolutionCredit LifeTHE CASEAmerican Insurance group in ground forces will have a bearing on its business in India, particularly its insurance business which it is running in collaboration with Tata.However sources in the industry say that policy holders are not required to worry as the financial condition of insurance subsidiaries of AIG in India is quite stable, and they are able to meet all the liabilities emerging out of claims from their policy holders.Insurance Regulatory Development Authority (IRDA) has also expressed its concern over the recent developments in the United States financial markets. AIG, which is one of the lead ing insurance group of US, has asked financial assistance from the national Reserves. AIG is operating in both the life and non-life insurance sectors.In a statement IRDA said that reports of life insurance and general insurance companies promoted by Tata and AIG as on March 29, 2008 indicated that both companies have satisfactory solvency dress which suggests that they have enough assets which is capable of meeting their liabilities. IRDA further clarified that life and general insurance companies promoted by Tatas and AIG are companies registered under the Indian Companies work and are restricted by the provisions of the Insurance Act .From the authoritative sources we found that policy holders should wait for clarification before taking any decision. AIG in USA has a solvency issue but in India in that location is no liquidity issue due to the intervension of IRDA. So there whitethorn not be a problem in the Indian insurance market.Though in many countries, policy holders ar e in a hurry to cancel their policies, but in India there is no deprivation to take such steps. Thus Industry experts said that there is no need to worry and policy holders should keep their insurance policies intact.This companys general insurance is among the top 5 general insurance companies of the world and has earned a net premium of RS.812 in 2008-09. This company is also one of the leading primary sectors and has earned a yearly premium of Rs.970 corer.Solution of the fibreOne of the officials Tata said that if AIG is not able to survive in the USA is forced to file for insolvency, Tata will buy out the 26% theatrical role of AIG in both the companies and the customers interest will stay put safe. Then control some other foreign company and sell that 26% to them. So IRDA took the decision that they will seek a new promoter inclose Tatas buys out the character or not the policiers interest will remain unaffected.But later on the matter settled down and AIG jolly regai ned its lost position and thus Tata decided not to buy off their shares and till date they are continuing their insurance company together. determinationIn India the insurance market was suffering before but now it has regained its lost status. But still now Life Insurance sight of India acquires 64% share of the entire insurance holders followed by ICICI prudential which has solely 9% approx. of the market. Tata AIG has almost a negligible Insurance market share which is less than 2%. So they need to work a crapper in order to establish their hold in Indian market.