Journal Press India^®

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In 1991, Indian economy was liberalized in a big way. In this financial liberalization, our study is focused on ascertaining trends due to structural reforms affected in the life insurance industry. The present study explains the concept of market micro structure. It also elaborates upon the concept of insurance from three perspectives and incorporates the risk management process. The main emphasis of the study is to ascertain the growth trends of variables peculiar to life insurance industry. The study reveals a growth and graphical analysis of life insurance penetration, life insurance density, new policies issued, first year premium and total life insurance premium and shows that insurance industry has been on a growth path as all the above mentioned variables have shown a consistent rise.

Keywords

Market Micro Structure, Concept of Insurance, Life Insurance

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