Role of The Regulator in Development of Life Insurance Sector in India: A Case Study

Financial service sector is the largest in the world in terms of earnings; it contributes more than 50 per cent of GDP and a greater tool to promote economic growth and development. Insurance, as a constituent of major financial sector services, with it s unique business model, occupied pivotal position in a country’s economy. Insurance is a strategic buffer for economy equilibrium (Van den Bergh, 1989)