RESEARCH PAPER PREPARED UNDER THE INTERNSHIP PROGRAMME OF COMPETITION COMMISION OF INDIA

Topic:-

Competition in Life Insurance Sector of India

Submitted by:Shilpa Thakur Amity Law School, Noida

INDEX
1. Acknowledgement 2. Abstract 3. Introduction 1. An introduction 2. List of Life Insurers 3. Evolution of Life Insurance in India 4. Malhotra committee’s recommendation 5. Opportunities 4. Entry barrier 5. Market Structure 6. The Provisions of the Competition Act,2002 7. Dominant Position in relevant Market 8. Dominance in market: LIC 1. Sovereign Guarantee 2. Distribution network 3. Other factors 9. Abuse of Dominance by LIC in light of the Act 10.Possibility of Abuse of Dominance 11.Conclusion and suggestion

ACKNOWLEDGEMENT

I sincerely thank all the officials responsible for providing this valuable internship at Competition Commission of India (CCI). I take this opportunity to express my sincere thanks to Mr. P.K. Purwar, Advisor (Economics) for his timely suggestions throughout my study. I am highly thankful to Dr. Anil Kumar Sharma, Assistant Director (Economics), CCI for having made my stay pleasant all along the internship. I also thank Ms. Sayanti Chakrabarti and the entire staff of CCI for providing me continuous support and encouragement throughout the internship.

ABSTRACT

My research is aimed at understanding the life insurance sector in India and flagging issues relating to competition in this sector. The life insurance sector has a small market and cover approx. 3 % of population in India. As a growing sector, it is important that all players get a level playing field. The competition act is to provide for a level playing field to all players to encourage competition in market. Through my study I have tried to substantiate this with facts and evidence proving that LIC as a state owned enterprise enjoys a dominant market. The